Brokerages expect that Cinemark Holdings, Inc. (NYSE:CNK) will report $765.23 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Cinemark’s earnings, with the highest sales estimate coming in at $784.60 million and the lowest estimate coming in at $753.00 million. Cinemark reported sales of $779.61 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.8%. The business is scheduled to announce its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Cinemark will report full year sales of $765.23 million for the current fiscal year, with estimates ranging from $3.08 billion to $3.13 billion. For the next financial year, analysts expect that the firm will report sales of $3.27 billion per share, with estimates ranging from $3.19 billion to $3.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cinemark.
Cinemark (NYSE:CNK) last announced its quarterly earnings data on Friday, February 23rd. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.35. Cinemark had a return on equity of 19.48% and a net margin of 8.83%. The business had revenue of $750.00 million during the quarter, compared to the consensus estimate of $745.92 million. During the same period in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis.
In related news, insider Valmir Fernandes sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $43.59, for a total value of $261,540.00. Following the completion of the transaction, the insider now directly owns 103,582 shares of the company’s stock, valued at $4,515,139.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CNK. Victory Capital Management Inc. lifted its stake in Cinemark by 73.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,081,823 shares of the company’s stock valued at $211,768,000 after buying an additional 2,570,923 shares during the last quarter. Rivulet Capital LLC lifted its stake in Cinemark by 88.0% in the fourth quarter. Rivulet Capital LLC now owns 2,859,216 shares of the company’s stock valued at $99,558,000 after buying an additional 1,338,000 shares during the last quarter. River Road Asset Management LLC lifted its stake in Cinemark by 1.9% in the fourth quarter. River Road Asset Management LLC now owns 2,312,832 shares of the company’s stock valued at $80,533,000 after buying an additional 42,982 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cinemark by 4.0% in the fourth quarter. Bank of New York Mellon Corp now owns 1,728,543 shares of the company’s stock valued at $60,187,000 after buying an additional 66,700 shares during the last quarter. Finally, Sarasin & Partners LLP lifted its stake in Cinemark by 17.2% in the third quarter. Sarasin & Partners LLP now owns 1,406,339 shares of the company’s stock valued at $50,924,000 after buying an additional 206,877 shares during the last quarter. 93.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Cinemark stock traded up $0.06 on Friday, reaching $37.67. 907,238 shares of the company were exchanged, compared to its average volume of 1,309,398. Cinemark has a 1-year low of $32.03 and a 1-year high of $44.74. The company has a market cap of $4,387.46, a PE ratio of 16.67, a P/E/G ratio of 1.06 and a beta of 0.94. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.37 and a current ratio of 1.40.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Thursday, March 8th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.40%. This is an increase from Cinemark’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, March 7th. Cinemark’s dividend payout ratio is 56.64%.
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Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. It operates theatres in the United States, Brazil, Argentina, Chile, Colombia, Peru, Ecuador, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao, and Paraguay. As of December 31, 2017, the company operated 533 theatres and 5,959 screens.
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