FINWIRES · TerminalLIVE
FINWIRES

Cinemark Benefits From Consistent Release Slate, Theater Investments, Wedbush Says

By

Cinemark (CNK) has begun benefitting from a more consistent release slate over the next several quarters, while also gaining from theater investments like laser projectors, premium seats, as well as strategic pricing on ticket and concessions, Wedbush said in a Tuesday note.

With Cinemark slated to release its Q2 earnings on Thursday, Wedbush raised its quarterly revenue and EPS estimate to $1.04 billion and $1.13 from $959 million and $0.99 previously.

Wedbush further modeled domestic revenue to rise 11% year-on-year to $844 million, with attendance per screen up 9% and revenue per attendee up 3% to $21.14, according to the note.

Wedbush said it expects annual increases and ongoing share repurchases under the company's buyback program, while noting that the company's $0.09 per share quarterly dividend payment remains well below its pre-pandemic level of $0.34.

Wedbush raised its price target on the company's stock to $40 from $37 and kept its outperform rating.

Price: $34.87, Change: $+1.21, Percent Change: +3.59%

Related Articles

Wire

AuMEGA Metals Starts Inaugural Diamond Drilling at Canada Targets; Shares Fall 9%

AuMEGA Metals (ASX:AAM) started inaugural diamond drilling at targets at Isle aux Morts Granite and and the adjoining Cape Ray West area along the Cape Ray shear zone in Canada, according to a Tuesday Australian bourse filing.The drilling program is designed to test a series of structural, geochemical, and geophysical targets defined by integrating geological mapping, surface geochemistry, geophysics, and structural interpretation, per the filing.The company's shares fell nearly 9% in recent trading on Tuesday.

ASX:AAM
Wire

Brown & Brown Q2 Adjusted Earnings, Revenue Rise

Brown & Brown (BRO) reported Q2 adjusted earnings late Monday of $1.07 per diluted share, up from $1.03 a year earlier.Analysts polled by FactSet expected $1.08.Revenue in the three months ended June 30 rose to $1.68 billion from $1.29 billion a year earlier.Analysts expected $1.71 billion.The company's shares fell 1.8% in after-hours trading.

$BRO
Wire

Celestica Q2 Adjusted Earnings, Revenue Rise; Shares Gain After Hours

Celestica (CLS) reported Q2 adjusted earnings late Monday of $2.54 per diluted share, up from $1.39 a year earlier.Analysts polled by FactSet expected $2.27.Revenue in the three months ended June 30 rose to $4.7 billion from $2.89 billion a year earlier.Analysts expected $4.33 billion.Celestica expects Q3 adjusted EPS of $2.88 to $3.08 on revenue of $5.25 to $5.55 billion.Analysts project EPS of $2.65 on revenue of $4.94 billion.The company boosted full-year guidance to adjusted EPS of $11.30 on revenue of $20.5 billion from the prior forecast of EPS of $10.15 on revenue of $19 billion.Analysts project EPS of $10.13 on revenue of $18.95 billion.Celestica shares rose 9.4% in after-hours trading.

$CLS