Cinemark (CNK) to Release Quarterly Earnings on Friday

Cinemark (NYSE:CNKGet Rating) is scheduled to announce its earnings results before the market opens on Friday, August 5th. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Cinemark (NYSE:CNKGet Rating) last issued its quarterly earnings results on Friday, May 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.01). The firm had revenue of $460.50 million during the quarter, compared to the consensus estimate of $454.52 million. Cinemark had a negative net margin of 15.54% and a negative return on equity of 85.71%. Cinemark’s revenue was up 302.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.75) earnings per share. On average, analysts expect Cinemark to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Cinemark Price Performance

Shares of CNK opened at $19.38 on Thursday. The company has a market cap of $2.33 billion, a P/E ratio of -8.04 and a beta of 2.15. The stock has a fifty day moving average price of $16.39 and a 200 day moving average price of $16.36. The company has a debt-to-equity ratio of 8.60, a current ratio of 1.11 and a quick ratio of 1.09. Cinemark has a 12 month low of $13.37 and a 12 month high of $23.15.

Institutional Trading of Cinemark

Institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of Cinemark in the first quarter valued at $174,000. Natixis Advisors L.P. acquired a new stake in shares of Cinemark in the first quarter valued at $247,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cinemark in the first quarter valued at $345,000. NewEdge Advisors LLC lifted its holdings in shares of Cinemark by 5.7% during the first quarter. NewEdge Advisors LLC now owns 23,870 shares of the company’s stock valued at $412,000 after purchasing an additional 1,290 shares during the last quarter. Finally, Advisory Services Network LLC lifted its holdings in shares of Cinemark by 760.4% during the first quarter. Advisory Services Network LLC now owns 35,275 shares of the company’s stock valued at $610,000 after purchasing an additional 31,175 shares during the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.

Analysts Set New Price Targets

CNK has been the subject of a number of recent research reports. Morgan Stanley upgraded Cinemark from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 19th. B. Riley lowered their price objective on Cinemark from $29.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Wedbush reissued an “outperform” rating and issued a $22.00 price target on shares of Cinemark in a research note on Tuesday. Benchmark set a $27.00 price target on Cinemark in a research note on Tuesday, July 19th. Finally, StockNews.com cut Cinemark from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.08.

About Cinemark

(Get Rating)

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of June 30, 2022, it operated 522 theatres with 5,868 screens in the United States, and South and Central America. The company was founded in 1984 and is headquartered in Plano, Texas.

Further Reading

Earnings History for Cinemark (NYSE:CNK)

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