Cinemark Holdings Inc. (CNK - Free Report) is a leading motion picture exhibition company globally. As of Sep 30, 2016, Cinemark operates 522 theatres with 5,865 screens in 15 Latin-American countries. Of late, Cinemark Holdings has been opening and renovating theatres with state-of-the-art amenities. It recently opened a 14-screen theatre in Sacramento, CA and a new 8-screen theatre in West Dundee, IL.
Cinemark Holdings also announced plans to renovate and upgrade its Cinemark 18 and XD Theatre by adding electric reclining seats to all auditoriums and a lobby bar serving beer and wine. However, Cinemark continues to face threat from alternative movie streaming services such as Netflix, Inc. NFLX, and Time Warner Inc.’s TWX HBO Now and Hulu. While theater chains remain the preferred choice for film studios, the recent trend of movie watchers opting for streaming services are making film studios seek better terms in box-office revenues with large-screen theater companies, which might hamper profitability.
Cinemark currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The company has generated a positive average earnings surprise of 4.29% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Cinemark reported higher than expected Q4 2016 earnings estimate. Our consensus earnings estimate called 43 cents per share and the company posted adjusted earnings of 64 cents per share. Investors should note that these figures take out stock option expenses.
Revenue: Cinemark reported total revenue of $700.9 million which fell below our estimate by $3.6 million.
Key States to Note: As of Dec 31, 2016, Cinemark’s aggregate screen count was 5,903 and management has decided to open eight new theatres and 69 screens during 2017 and seven new theatres and 76 screens subsequent to 2017.
Check back later for our full write up on this Cinemark earnings report later!
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Cinemark Holdings Inc. (CNK - Free Report) is a leading motion picture exhibition company globally. As of Sep 30, 2016, Cinemark operates 522 theatres with 5,865 screens in 15 Latin-American countries. Of late, Cinemark Holdings has been opening and renovating theatres with state-of-the-art amenities. It recently opened a 14-screen theatre in Sacramento, CA and a new 8-screen theatre in West Dundee, IL.
Cinemark Holdings also announced plans to renovate and upgrade its Cinemark 18 and XD Theatre by adding electric reclining seats to all auditoriums and a lobby bar serving beer and wine. However, Cinemark continues to face threat from alternative movie streaming services such as Netflix, Inc. NFLX, and Time Warner Inc.’s TWX HBO Now and Hulu. While theater chains remain the preferred choice for film studios, the recent trend of movie watchers opting for streaming services are making film studios seek better terms in box-office revenues with large-screen theater companies, which might hamper profitability.
Cinemark currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The company has generated a positive average earnings surprise of 4.29% in the previous four quarters. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Cinemark reported higher than expected Q4 2016 earnings estimate. Our consensus earnings estimate called 43 cents per share and the company posted adjusted earnings of 64 cents per share. Investors should note that these figures take out stock option expenses.
Revenue: Cinemark reported total revenue of $700.9 million which fell below our estimate by $3.6 million.
Key States to Note: As of Dec 31, 2016, Cinemark’s aggregate screen count was 5,903 and management has decided to open eight new theatres and 69 screens during 2017 and seven new theatres and 76 screens subsequent to 2017.
Check back later for our full write up on this Cinemark earnings report later!
The Best Place to Start Your Stock Search
Today, you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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