Advertisement
Canada markets open in 7 hours 10 minutes

  • S&P/TSX

    22,011.72
    +139.76 (+0.64%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • CAD/USD

    0.7315
    -0.0005 (-0.07%)
     

  • CRUDE OIL

    83.47
    +0.11 (+0.13%)
     

  • Bitcoin CAD

    91,153.84
    +169.54 (+0.19%)
     

  • CMC Crypto 200

    1,416.11
    -7.99 (-0.56%)
     

  • GOLD FUTURES

    2,340.70
    -1.40 (-0.06%)
     

  • RUSSELL 2000

    2,002.64
    +35.17 (+1.79%)
     

  • 10-Yr Bond

    4.5980
    -0.0520 (-1.12%)
     

  • NASDAQ futures

    17,729.00
    +122.25 (+0.69%)
     

  • VOLATILITY

    15.69
    -1.25 (-7.38%)
     

  • FTSE

    8,044.81
    +20.94 (+0.26%)
     

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • CAD/EUR

    0.6835
    -0.0001 (-0.01%)
     

Cinemark (CNK) Surges 6.6%: Is This an Indication of Further Gains?

Zacks Equity Research
Updated ·2 min read

Cinemark Holdings (CNK) 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.

ADVERTISEMENT

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), 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).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Cinemark Holdings Inc (CNK) : Free Stock Analysis Report

Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research