Cinemark Holdings, Inc. (CNK) Expected to Post Quarterly Sales of $746.72 Million

Equities analysts predict that Cinemark Holdings, Inc. (NYSE:CNK) will post sales of $746.72 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cinemark’s earnings, with the highest sales estimate coming in at $750.90 million and the lowest estimate coming in at $744.80 million. Cinemark reported sales of $700.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 22nd.

On average, analysts expect that Cinemark will report full year sales of $746.72 million for the current financial year, with estimates ranging from $2.98 billion to $2.99 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.11 billion per share, with estimates ranging from $3.08 billion to $3.14 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Cinemark.

Cinemark (NYSE:CNK) last issued its earnings results on Friday, November 3rd. The company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.02). Cinemark had a net margin of 8.36% and a return on equity of 18.43%. The company had revenue of $710.70 million during the quarter, compared to analyst estimates of $702.60 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was down 7.5% on a year-over-year basis.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Cinemark from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday. Morgan Stanley lifted their target price on Cinemark from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday. MKM Partners cut their price target on Cinemark to $44.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. B. Riley reaffirmed a “buy” rating and set a $42.50 price target (down previously from $47.00) on shares of Cinemark in a report on Monday, January 22nd. Finally, Royal Bank of Canada raised Cinemark from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $33.91 to $40.00 in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $41.61.

In related news, EVP Tom Owens sold 9,213 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $36.00, for a total transaction of $331,668.00. Following the sale, the executive vice president now owns 42,722 shares of the company’s stock, valued at $1,537,992. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lee Roy Mitchell sold 299,700 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $36.43, for a total value of $10,918,071.00. Following the sale, the director now directly owns 5,528,843 shares in the company, valued at approximately $201,415,750.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 483,820 shares of company stock worth $17,672,093. Corporate insiders own 9.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Cinemark by 4.3% during the second quarter. Vanguard Group Inc. now owns 9,385,792 shares of the company’s stock worth $364,639,000 after purchasing an additional 382,700 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Cinemark by 73.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,081,823 shares of the company’s stock worth $211,768,000 after purchasing an additional 2,570,923 shares in the last quarter. Jennison Associates LLC raised its holdings in Cinemark by 1.5% during the third quarter. Jennison Associates LLC now owns 4,049,006 shares of the company’s stock worth $146,615,000 after purchasing an additional 60,330 shares in the last quarter. State Street Corp raised its holdings in Cinemark by 2.2% during the second quarter. State Street Corp now owns 2,850,679 shares of the company’s stock worth $110,755,000 after purchasing an additional 62,519 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Cinemark by 2.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,350,375 shares of the company’s stock worth $85,108,000 after purchasing an additional 45,818 shares in the last quarter. 94.68% of the stock is currently owned by hedge funds and other institutional investors.

Cinemark (CNK) opened at $37.10 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.50. Cinemark has a 52 week low of $32.03 and a 52 week high of $44.84. The company has a market capitalization of $4,285.98 and a P/E ratio of 17.61.

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About Cinemark

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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Earnings History and Estimates for Cinemark (NYSE:CNK)

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