Cinemark Holdings Inc (CNK) Announces Quarterly Earnings Results
Cinemark Holdings Inc (NYSE:CNK) released its quarterly earnings data on Friday. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02), Briefing.com reports. Cinemark Holdings had a return on equity of 20.98% and a net margin of 9.12%. The business had revenue of $710.70 million during the quarter, compared to analysts’ expectations of $702.60 million. During the same quarter last year, the business posted $0.56 EPS. The company’s quarterly revenue was down 7.5% compared to the same quarter last year.
Cinemark Holdings (NYSE:CNK) traded down $1.03 during mid-day trading on Friday, reaching $34.37. The company had a trading volume of 1,955,825 shares, compared to its average volume of 1,052,951. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.48 and a current ratio of 1.52. The company has a market cap of $4,003.01, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.10 and a beta of 1.18.
Several equities research analysts have weighed in on CNK shares. Credit Suisse Group dropped their price objective on Cinemark Holdings from $34.00 to $30.00 and set an “underperform” rating for the company in a report on Thursday, September 28th. Royal Bank Of Canada set a $43.00 price objective on Cinemark Holdings and gave the stock a “hold” rating in a report on Sunday, September 10th. Morgan Stanley upgraded Cinemark Holdings from an “underweight” rating to an “equal weight” rating and set a $38.00 price objective for the company in a report on Thursday, October 5th. Wedbush reiterated an “outperform” rating and issued a $44.00 price objective on shares of Cinemark Holdings in a report on Thursday, October 5th. Finally, Zacks Investment Research cut Cinemark Holdings from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $41.85.
In related news, CEO Mark Zoradi acquired 5,000 shares of Cinemark Holdings stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average price of $32.19 per share, with a total value of $160,950.00. Following the transaction, the chief executive officer now directly owns 172,456 shares in the company, valued at $5,551,358.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.20% of the stock is owned by company insiders.
Cinemark Holdings Company Profile
Cinemark Holdings, Inc is engaged in the motion picture exhibition business with theatres in the United States (U.S.), Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Paraguay, Curacao and Bolivia. The Company manages its business in two segments: U.S.
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