Cinemark Holdings misses Q3 earnings estimates by $0.06

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Cinemark Holdings Stock Fair Value – Cinemark Holdings ($NYSE:CNK) missed analysts’ estimates for third-quarter earnings by $0.06 per share, as the company continues to be impacted by the coronavirus pandemic. The company attributed the miss to “lower-than-expected attendance at our theatres in the U.S. and Latin America due to the ongoing pandemic.”

Cinemark has been among the hardest-hit companies in the entertainment industry, as the pandemic has forced movie theaters to close their doors around the world. The company has reopened some of its theaters, but attendance remains well below pre-pandemic levels.

Earnings

This represents a 52.7% increase from the same period last year.

However, the company’s net income for the quarter was $219.5 million, missing analysts’ estimates by $0.06 per share. Despite the challenges posed by the pandemic, Cinemark Holdings has managed to increase its revenue significantly over the past year. In the third quarter of fiscal 2021, the company’s total revenue was $686.3 million. Looking ahead, Cinemark Holdings expects to continue to be impacted by the pandemic in the short term. However, the company is optimistic about the future and is committed to delivering a great experience to its customers.

Price History

Cinemark Holdings missed Q3 earnings estimates by $0.06 on Friday, causing their stock to open at $11.4 and close at $11.6. This 9.4% rise from the prior closing price of 10.6 is due to mostly negative media exposure. The company has yet to elaborate on the miss.

VI Analysis – Cinemark Holdings Stock Fair Value

Cinemark Holdings, Inc. is an American motion picture exhibitor, and the third largest in North America. The company operates numerous multiplex cinema chains, including its flagship Cinemark Theatres brand, Century Theatres, CinéArts, Tinseltown, Rave Cinemas, and Movie Tavern.

VI Peers

Cinemark Holdings Inc. is one of the world’s largest movie theater chains, with approximately 4,500 screens in more than 40 countries. The company’s theaters are located in the United States, Canada, Brazil, Mexico, Argentina, Chile, Colombia, Ecuador, Peru, Bolivia, Venezuela, Uruguay, Honduras, El Salvador, Costa Rica, Panama, Guatemala, Curacao, Nicaragua, Jamaica, and the Philippines. Cinemark Holdings Inc. operates under three brands: Cinemark, Century Theatres, and Tinseltown. The company also has a joint venture with joint venture partner Regal Entertainment Group, which operates under the brand name Cineplex.

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Summary

Cinemark Holdings is a leading motion picture exhibitor with theatres in the United States, Brazil, Argentina, Chile, Colombia, Ecuador, Peru, Honduras, El Salvador, Nicaragua, Costa Rica, Panama, Guatemala, Bolivia, Curacao and Uruguay.