(CNK) Cinemark Holdings Incorporated – Revenue Was Up 32% From Last Year

March 4th, 2010

Cinemark Holdings Inc. (CNK) recently hit a new 52-week high just above $17 on strong Q4 results from late February that pushed estimates higher.

Company Description

Cinemark Holdings, Inc. and its subsidiaries own and operate a chain of movie theatres in the united States and Latin America, with over 4,900 screens. The company has a market cap of $1.66 billion.

Fourth-Quarter Results

Shares of CNK caught a bid on February 25 when the company reported better than expected Q4 results. Revenue was up 32% from last year to $536.4 million. Earnings also came in strong at 39 cents per share, more than double the Zacks Consensus Estimate of 19 cents. The company has surprised in each of the last four quarters by an average of 10 cents, or 55%.

Cinemark’s noted that its results were driven by a 21% increase in movie attendance, an 11% jump in ticket prices and a 6.5% gains in concessions revenue. The company also noted that its international business is seeing strong momentum, with admissions revenues up 14.2%, concession revenues up 17.6% on a 3.9% increase in attendance.

Cinemark’s balance sheet is looking strong too, with $350 million in cash against $1.16 billion in total debt with no significant payments due on long term loans until December of 2012.

Estimates Up

Estimates jumped higher on the good quarter, with the current year adding5 cents to 96 cents. The next-year estimate is up 14 cents in the same time to $1.11, a solid 15% growth projection.

Valuation

In spite of the recent gains, this stock still looks reasonably priced, trading with a forward P/E of 17.5X, a slight premium to the overall market with the nice growth projection in tow.

The Chart

Shares of CNK recently hit a new 52-week high after breaking above a short-term level of resistance just above $15. Take a look below.

CNK: Cinemark Corp. ><br /> <P ALIGN=
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Surprise Trader Service.

Zacks Investment Research

More on this topic (What's this?)
A Stock with a Touch of Latin Flavor (The Iconoclast Investor, 3/15/10)
Cinemark Holdings (Restaurant at the End of the Uni..., 7/3/09)
Making Money from the Movies (Invest2Success, 1/3/11)
MKM Partners Talks About This Weekend's Box Office (Benzinga, 10/1/10)
Read more on Cinemark Holdings at Wikinvest

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