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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Cinemark Holdings Inc. CNK, +1.74% is offering Private Swiftie Parties, where fans can hire a private auditorium to watch the star's forthcoming “Taylor Swift The Eras Tour” concert film, which hits theaters Oct. 13. The company describes the parties as the “ultimate VIP event” to experience the film.
As "Barbie" continues to shine at the box office, investors may want to closely monitor ETFs that align with the themes and industries influenced by this groundbreaking cinematic achievement.
"Barbie" isn't just one of 2023's biggest box office hits, it could also have a lasting financial impact on companies spanning fashion, entertainment, and home decor.
Cinemark Holdings (NYSE:CNK), Inc shares rose 3% to $17.80 in early Friday trading as the cinema operator saw its second-quarter revenue rise 27% year over year to $942.3 million, as 24% more movie goers paid to see films at its theaters. The company also swung to a 2Q profit of $119.1 million, or $0.80 a share, from a loss of $73.4 million, or $0.61 a share, during the same period last year.
Cinemark Holdings (CNK) came out with quarterly earnings of $0.80 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.17 per share a year ago.
The movie theater chain posts second-quarter earnings of 80 cents a share, topping forecasts of 54 cents.
Cinemark Holdings Inc.'s stock CNK, -0.12% rose 4% in premarket trade Friday, after the cinema operator swung to a profit and beat consensus estimates for the second quarter. Plano, Texas-based Cinemark said it had net income of $119.1 million, or 80 cents a share, for the quarter, after a loss of $73.4 million, or 61 cents a share, in the year-earlier period.
Cinemark (CNK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Retail investors have jumped strategically on various cinema stocks over the past two years. The trend has capitalized on the surge seen in pandemic rebound plays, as well as the meme stock mania.