Cinemark Holdings Inc. (CNK - Free Report) is a leading domestic and international motion picture exhibition company, headquartered in Plano, TX. As of Dec 31, 2017, it operated 533 theaters with 5,959 screens in 41 U.S. states, Brazil, Argentina and 13 other Latin American countries.
Of late, Cinemark Holdings has been opening and renovating theaters with state-of-the-art amenities. It recently opened an 8-screen theater in Spanish Fork, UT and another one in Sacramento, CA. Both will feature the company's Luxury Lounger electric recliners in all auditoriums, large wall-to-wall screens, enhanced sound systems and digital presentation in all auditoriums along with Cinemark XD auditorium and Cinema Café. The company also announced the launch of Movie Club, a unique monthly movie membership program, which will offer ticket and concession discounts along with many other exclusive benefits.
Cinemark Holdings also announced plans to renovate and upgrade Cinemark Movies 12 Theater by adding electric reclining Luxury Lounger reclining seats to all auditoriums. We expect such renovations and attractive promotional offers to help the company witness substantial subscriber growth in the to-be reported quarter.
On the other hand, while theater chains remain the preferred choice for film studios, the recent trend of movie watchers opting for streaming services is making film studios seek better terms in box-office revenues with large-screen theater companies. This might hamper profitability.
Zacks Rank: Cinemark currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Cinemark’s Q4 2017 earnings of 82 cents per share improved from 64 cents in the year-ago quarter.
Revenue: Cinemark reported total revenue of $749.99 million was up 7% year over year and surpassed the Zacks Consensus Estimate of $746.7 million.
Key States to Note: As of Dec 31, 2017, Cinemark’s aggregate screen count was 5,959. Average ticket price was $7.98, up 4.3% year over year. Concession revenues per patron were $4.69, reflecting an increase of 10.6% year over year. Worldwide attendance was 44.3 million, down 0.7% year over year.
Check back later for our full write up on this Cinemark Holdings earnings report later!
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>