Cinemark Topped Q1 Estimates, Tenth Consecutive Quarter Of Domestic Industry Outperformance
Comtex SmarTrend(R) Cinemark (NYSE:CNK) reported Q1 EPS of $0.22, ahead of consensus estimates of $0.13 per share. Revenues for the quarter fell 6.5% year-over-year to $483.1 million, topping consensus estimates of $469.6 million.
"Despite the lackluster film slate for the first quarter of 2011, Cinemark's geographic diversity and operating discipline helped us post our tenth consecutive quarter of domestic industry out-performance and maintain solid margins," stated Alan Stock, Cinemark's Chief Executive Officer. "Our international segment continues to benefit from the overall healthy economic climate throughout Latin America, posting a 19.4% increase in total revenues over the prior year."
Cinemark has a potential upside of 16.5% based on a current price of $19.97 and an average consensus analyst price target of $23.27.
Cinemark is currently above its 50-day moving average (MA) of $19.55 and above its 200-day of $17.57.
In the last five trading sessions, the 50-day MA has climbed 0.28% while the 200-day MA has risen 0.56%.
Cinemark Holdings, Inc. operates movie theaters. The Company operates in the United States and Latin America.