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Cinemark (CNK) Surges 6.6%: Is This an Indication of Further Gains?
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Cinemark Holdings (CNK - Free Report) shares rallied 6.6% in the last trading session to close at $16.21. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.4% gain over the past four weeks.
Shares of Cinemark appreciated after the company announced that it achieved the highest single day of attendance since Christmas Day of 2019 on Apr 8.
This movie theater owner is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of +46.8%. Revenues are expected to be $563.38 million, up 22.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cinemark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNK going forward to see if this recent jump can turn into more strength down the road.
Cinemark is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Royal Caribbean (RCL - Free Report) , finished the last trading session 1.8% higher at $62.35. RCL has returned -8.4% over the past month.
For Royal Caribbean, the consensus EPS estimate for the upcoming report has changed -0.4% over the past month to -$0.73. This represents a change of +84% from what the company reported a year ago. Royal Caribbean currently has a Zacks Rank of #2 (Buy).
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Cinemark (CNK) Surges 6.6%: Is This an Indication of Further Gains?
Cinemark Holdings (CNK - Free Report) shares rallied 6.6% in the last trading session to close at $16.21. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 18.4% gain over the past four weeks.
Shares of Cinemark appreciated after the company announced that it achieved the highest single day of attendance since Christmas Day of 2019 on Apr 8.
This movie theater owner is expected to post quarterly loss of $0.33 per share in its upcoming report, which represents a year-over-year change of +46.8%. Revenues are expected to be $563.38 million, up 22.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cinemark, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Cinemark is a member of the Zacks Leisure and Recreation Services industry. One other stock in the same industry, Royal Caribbean (RCL - Free Report) , finished the last trading session 1.8% higher at $62.35. RCL has returned -8.4% over the past month.
For Royal Caribbean, the consensus EPS estimate for the upcoming report has changed -0.4% over the past month to -$0.73. This represents a change of +84% from what the company reported a year ago. Royal Caribbean currently has a Zacks Rank of #2 (Buy).