Cinemark (NYSE:CNK) Announces Earnings Results

Cinemark (NYSE:CNK - Get Free Report) released its earnings results on Thursday. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.40, Briefing.com reports. Cinemark had a net margin of 7.12% and a return on equity of 69.48%. The firm had revenue of $579.00 million for the quarter, compared to analysts' expectations of $561.91 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The company's quarterly revenue was down 5.2% on a year-over-year basis.

Cinemark Price Performance

NYSE:CNK traded up $0.13 during mid-day trading on Friday, hitting $17.72. 3,420,747 shares of the stock traded hands, compared to its average volume of 3,239,711. The business's 50-day moving average price is $17.91 and its 200 day moving average price is $15.85. The company has a quick ratio of 1.42, a current ratio of 1.45 and a debt-to-equity ratio of 7.15. The company has a market cap of $2.15 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.08 and a beta of 2.25. Cinemark has a 12-month low of $13.19 and a 12-month high of $20.40.

Insiders Place Their Bets

In other Cinemark news, insider Wanda Marie Gierhart sold 19,593 shares of the firm's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.75, for a total value of $328,182.75. Following the completion of the transaction, the insider now directly owns 179,591 shares of the company's stock, valued at approximately $3,008,149.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. B. Riley upped their price objective on Cinemark from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday. Benchmark reissued a "buy" rating and issued a $23.00 price objective on shares of Cinemark in a report on Friday. StockNews.com cut Cinemark from a "hold" rating to a "sell" rating in a research note on Friday. Barrington Research reiterated an "outperform" rating and set a $24.00 target price on shares of Cinemark in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of Cinemark from $16.00 to $12.00 and set a "sell" rating on the stock in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $20.33.

About Cinemark

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.