Analysts expect Cinemark Holdings, Inc. (NYSE:CNK) to announce $939.88 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Cinemark’s earnings. The lowest sales estimate is $897.30 million and the highest is $965.60 million. Cinemark posted sales of $889.05 million in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.
According to Zacks, analysts expect that Cinemark will report full year sales of $3.32 billion for the current year, with estimates ranging from $3.28 billion to $3.35 billion. For the next year, analysts expect that the firm will report sales of $3.39 billion, with estimates ranging from $3.32 billion to $3.47 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Cinemark.
Cinemark (NYSE:CNK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. The business had revenue of $714.70 million for the quarter, compared to the consensus estimate of $688.51 million. Cinemark had a net margin of 5.85% and a return on equity of 12.61%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share.
Several research firms have commented on CNK. ValuEngine downgraded shares of Cinemark from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research downgraded shares of Cinemark from a “buy” rating to a “hold” rating in a report on Tuesday, February 26th. Wedbush reaffirmed a “buy” rating and set a $46.00 price objective on shares of Cinemark in a report on Wednesday, January 30th. Finally, Loop Capital began coverage on shares of Cinemark in a report on Thursday, January 31st. They set a “hold” rating and a $41.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Cinemark presently has a consensus rating of “Buy” and a consensus target price of $44.67.
NYSE CNK traded up $0.51 during trading on Tuesday, hitting $40.51. 12,989 shares of the company’s stock traded hands, compared to its average volume of 1,039,309. The company has a market cap of $4.72 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.15 and a beta of 0.79. Cinemark has a 12-month low of $33.36 and a 12-month high of $43.51. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 2.18.
In other news, insider Valmir Fernandes sold 4,033 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $43.00, for a total value of $173,419.00. Following the sale, the insider now directly owns 114,961 shares of the company’s stock, valued at $4,943,323. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.00% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in Cinemark by 5.7% in the first quarter. FMR LLC now owns 9,183,881 shares of the company’s stock valued at $367,263,000 after purchasing an additional 494,773 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in Cinemark in the first quarter valued at approximately $889,000. BlueCrest Capital Management Ltd purchased a new stake in Cinemark in the first quarter valued at approximately $356,000. Bernzott Capital Advisors raised its stake in Cinemark by 0.6% in the first quarter. Bernzott Capital Advisors now owns 715,376 shares of the company’s stock valued at $28,608,000 after purchasing an additional 4,430 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Cinemark by 111.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,696 shares of the company’s stock valued at $187,000 after purchasing an additional 2,477 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of December 31, 2018, it operated 341 theatres and 4,586 screens in 41 states of the United States; and 205 theatres and 1,462 screens in Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay.
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