Wall Street brokerages expect Cinemark Holdings, Inc. (NYSE:CNK) to post $818.06 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for Cinemark’s earnings, with the lowest sales estimate coming in at $796.30 million and the highest estimate coming in at $853.20 million. Cinemark reported sales of $754.24 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.5%. The business is scheduled to issue its next earnings report on Friday, November 1st.
According to Zacks, analysts expect that Cinemark will report full year sales of $3.33 billion for the current year, with estimates ranging from $3.26 billion to $3.38 billion. For the next year, analysts forecast that the company will report sales of $3.40 billion, with estimates ranging from $3.28 billion to $3.51 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Cinemark.
Cinemark (NYSE:CNK) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.06. The business had revenue of $957.76 million for the quarter, compared to analysts’ expectations of $906.57 million. Cinemark had a net margin of 6.31% and a return on equity of 13.75%.
In other news, CFO Sean Gamble sold 5,669 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $41.50, for a total transaction of $235,263.50. Following the transaction, the chief financial officer now owns 126,025 shares in the company, valued at $5,230,037.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CNK. Norges Bank acquired a new position in shares of Cinemark during the fourth quarter valued at about $36,407,000. Clark Capital Management Group Inc. raised its holdings in shares of Cinemark by 162.8% during the first quarter. Clark Capital Management Group Inc. now owns 1,162,491 shares of the company’s stock valued at $46,488,000 after purchasing an additional 720,110 shares during the period. DNB Asset Management AS acquired a new position in shares of Cinemark during the second quarter valued at about $25,830,000. Eagle Asset Management Inc. raised its holdings in shares of Cinemark by 21.7% during the first quarter. Eagle Asset Management Inc. now owns 3,185,009 shares of the company’s stock valued at $127,368,000 after purchasing an additional 566,923 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Cinemark by 23.0% during the second quarter. Renaissance Technologies LLC now owns 2,932,900 shares of the company’s stock valued at $105,878,000 after purchasing an additional 548,900 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.
CNK traded up $0.74 during trading on Tuesday, reaching $37.87. 1,138,400 shares of the stock traded hands, compared to its average volume of 1,350,401. The company has a quick ratio of 0.92, a current ratio of 0.95 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $4.35 billion, a PE ratio of 20.69, a P/E/G ratio of 1.05 and a beta of 0.71. The stock’s 50-day moving average is $38.13 and its 200 day moving average is $39.02. Cinemark has a 12 month low of $34.49 and a 12 month high of $43.51.
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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