Cinemark Holdings (CNK) Releases Earnings Results, Beats Expectations By $0.03 EPS

Cinemark Holdings (CNK) reported quarterly earnings results on Tuesday, May-10-2016. The company said it had a profit of $0.50 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.47. The company posted revenue of $704.50 million in the period, compared to analysts expectations of $699.76 million. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Cinemark Holdings. Company shares were Reiterated by MKM Partners on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $37 .Shares were Reiterated by Topeka Capital Markets on Feb 24, 2016 to “Buy” and Lowered the Price Target to $ 43 from a previous price target of $44 .Shares were Reiterated by The Benchmark Company on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 42.24 from a previous price target of $49.32 .

Cinemark Holdings closed down -0.08 points or -0.23% at $35.22 with 3,49,707 shares getting traded on Friday. Post opening the session at $35.11, the shares hit an intraday low of $34.73 and an intraday high of $35.33 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Dec 22, 2015, Valmir Fernandes (Pr – Cinemark International) sold 20,000 shares at $32.17 per share price. According to the SEC, on Aug 31, 2015, Timothy Warner (Vice Chairman of the Board) sold 15,676 shares at $35.73 per share price. On Aug 31, 2015, Robert Copple (President & COO) sold 28,250 shares at $36.28 per share price, according to the Form-4 filing with the securities and exchange commission.

Cinemark Holdings Inc. is engaged in the motion picture exhibition business with theatres in the United States Brazil Mexico Argentina Chile Colombia Peru Ecuador Honduras El Salvador Nicaragua Costa Rica Panama Guatemala and Bolivia. The Company manages its business in two segments: U.S. markets and international markets. As of December 31 2014 the Company operated 495 theatres and 5676 screens in 41 states and 13 Latin American countries. The Company develops new platforms and markets concepts for its domestic theatre circuit including NextGen CineArts Cinemark Bistro Cinemark Reserve and other premium concepts such as its Cinemark XD Extreme Digital Cinema (XD). As of December 31 2014 the Company’s United States circuit had 335 theatres and 4499 screens in 41 states and its international circuit had 160 theatres and 1177 screens.

Cinemark Holdings

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