Cinemark Holdings Inc. [NYSE: CNK] stock went on a downward path that fall over -0.66% on Friday, amounting to a one-week price increase of more than 10.01%. The company report on November 5, 2020 that Cinemark Holdings, Inc. Reports Results for the Third Quarter of 2020.
Cinemark Holdings, Inc. (NYSE: CNK), one of the largest motion picture exhibitors in the world, reported results for the three and nine months ended September 30, 2020. The Company’s financial results continue to be impacted by the COVID-19 pandemic, as the Company’s theatres were temporarily closed beginning in March 2020. The Company began reopening domestic theatres in June 2020 and international theatres in August 2020, following new health and safety protocols. As of September 30, 2020, the Company had 252 domestic and 15 international theatres open to limited hours, showing library content and some new releases. During the three months ended September 30, 2020, attendance was 1.9 million patrons, admissions revenues were $14.9 million and concession revenues were $9.1 million. Total revenues were $35.5 million for the three months ended September 30, 2020.
Net loss attributable to Cinemark Holdings, Inc. for the three months ended September 30, 2020 was $(147.6) million. Diluted loss per share for the three months ended September 30, 2020 was $(1.25) and Adjusted EBITDA for the three months ended September 30, 2020 was $(128.0) million. Reconciliations of non-GAAP financial measures are provided in the financial schedules accompanying this press release and at investors.cinemark.com.
Over the last 12 months, CNK stock dropped by -74.96%. The average equity rating for CNK stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.09 billion, with 116.67 million shares outstanding and 97.99 million shares in the current float. Compared to the average trading volume of 9.64M shares, CNK stock reached a trading volume of 6910555 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Cinemark Holdings Inc. [CNK]:
Barrington Research have made an estimate for Cinemark Holdings Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on October 26, 2020. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $14 to $11. The new note on the price target was released on October 12, 2020, representing the official price target for Cinemark Holdings Inc. stock. Previously, the target price had yet another raise to $18, while The Benchmark Company analysts kept a Buy rating on CNK stock.
The Average True Range (ATR) for Cinemark Holdings Inc. is set at 0.68, with the Price to Sales ratio for CNK stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 4.73.
CNK Stock Performance Analysis:
Cinemark Holdings Inc. [CNK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.01. With this latest performance, CNK shares gained by 2.74% in over the last four-week period, additionally sinking by -33.65% over the last 6 months – not to mention a drop of -74.96% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNK stock in for the last two-week period is set at 48.21, with the RSI for the last a single of trading hit 56.22, and the three-weeks RSI is set at 46.20 for Cinemark Holdings Inc. [CNK]. The present Moving Average for the last 50 days of trading for this stock 10.44, while it was recorded at 8.72 for the last single week of trading, and 14.79 for the last 200 days.
Insight into Cinemark Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Cinemark Holdings Inc. [CNK] shares currently have an operating margin of +12.41 and a Gross Margin at +17.69. Cinemark Holdings Inc.’s Net Margin is presently recorded at +5.79.
Return on Total Capital for CNK is now 9.79, given the latest momentum, and Return on Invested Capital for the company is 4.74. Return on Equity for this stock inclined to 13.21, with Return on Assets sitting at 3.69. When it comes to the capital structure of this company, Cinemark Holdings Inc. [CNK] has a Total Debt to Total Equity ratio set at 235.08. Additionally, CNK Total Debt to Total Capital is recorded at 70.16, with Total Debt to Total Assets ending up at 57.91. Long-Term Debt to Equity for the company is recorded at 218.40, with the Long-Term Debt to Total Capital now at 65.18.
Reflecting on the efficiency of the workforce at the company, Cinemark Holdings Inc. [CNK] managed to generate an average of $8,646 per employee. Receivables Turnover for the company is 35.27 with a Total Asset Turnover recorded at a value of 0.64.Cinemark Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
CNK Stock EPS
With the latest financial reports released by the company, Cinemark Holdings Inc. posted 0.22/share EPS, while the average EPS was predicted by analysts to be reported at 0.43/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -48.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CNK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cinemark Holdings Inc. go to 8.50%.
Cinemark Holdings Inc. [CNK] Insider Position Details
There are presently around $889 million, or 86.20% of CNK stock, in the hands of institutional investors. The top three institutional holders of CNK stocks are: BLACKROCK INC. with ownership of 12,312,944, which is approximately -0.68% of the company’s market cap and around 1.30% of the total institutional ownership; VANGUARD GROUP INC, holding 9,671,457 shares of the stock with an approximate value of $87.14 million in CNK stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $76.08 million in CNK stock with ownership of nearly 68.314% of the company’s market capitalization.
Positions in Cinemark Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 118 institutional holders increased their position in Cinemark Holdings Inc. [NYSE:CNK] by around 21,365,007 shares. Additionally, 144 investors decreased positions by around 37,732,865 shares, while 38 investors held positions by with 39,606,867 shares. The mentioned changes placed institutional holdings at 98,704,739 shares, according to the latest SEC report filing. CNK stock had 43 new institutional investments in for a total of 5,058,733 shares, while 57 institutional investors sold positions of 11,516,848 shares during the same period.