Equities analysts expect that Cinemark Holdings, Inc. (NYSE:CNK) will report $939.88 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Cinemark’s earnings, with estimates ranging from $897.30 million to $965.60 million. Cinemark reported sales of $889.05 million in the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business 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 fiscal year, with estimates ranging from $3.28 billion to $3.35 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.39 billion, with estimates ranging from $3.32 billion to $3.47 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Cinemark.
Cinemark (NYSE:CNK) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Cinemark had a net margin of 5.85% and a return on equity of 12.61%. The company had revenue of $714.70 million during the quarter, compared to analysts’ expectations of $688.51 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. Cinemark’s quarterly revenue was down 8.4% compared to the same quarter last year.
A number of research analysts have recently issued reports on the stock. Wedbush set a $46.00 target price on shares of Cinemark and gave the company a “buy” rating in a research note on Monday, April 22nd. ValuEngine cut shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research cut shares of Cinemark from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $44.67.
In related news, insider Valmir Fernandes sold 4,033 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $43.00, for a total value of $173,419.00. Following the completion of the sale, the insider now owns 114,961 shares of the company’s stock, valued at $4,943,323. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.00% of the company’s stock.
Several institutional investors have recently modified their holdings of CNK. Arizona State Retirement System increased its holdings in shares of Cinemark by 1.1% in the fourth quarter. Arizona State Retirement System now owns 76,302 shares of the company’s stock valued at $2,732,000 after purchasing an additional 814 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Cinemark by 6.3% in the fourth quarter. Advisors Asset Management Inc. now owns 41,302 shares of the company’s stock valued at $1,479,000 after purchasing an additional 2,460 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Cinemark in the fourth quarter valued at approximately $442,000. Rhumbline Advisers increased its holdings in shares of Cinemark by 52.7% in the fourth quarter. Rhumbline Advisers now owns 270,652 shares of the company’s stock valued at $9,689,000 after purchasing an additional 93,432 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Cinemark by 104.6% in the fourth quarter. SG Americas Securities LLC now owns 50,266 shares of the company’s stock valued at $1,800,000 after purchasing an additional 25,696 shares in the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:CNK traded down $0.11 during trading on Thursday, reaching $37.39. The stock had a trading volume of 1,001,900 shares, compared to its average volume of 1,131,041. Cinemark has a 52 week low of $34.03 and a 52 week high of $43.51. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $4.36 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Friday, June 7th. Cinemark’s dividend payout ratio is currently 74.32%.
Cinemark Company Profile
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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