Latest in Cinemark Entertainment
Time To Unload Movie Theater Stocks? Box Office Will Fall 5% In 2016 – Analyst
The new forecast from B. Riley’s Eric Wold — one of the top exhibition analysts on Wall Street — may sober investors, and exhibition execs as they prepare to party at next week’s CinemaCon confab in Las Vegas. Wold just downgraded the sector to “sell,” projecting that domestic box office sales will drop 5% in 2016…
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Deadline Big Media With David Lieberman, Episode 10
Listen to Episode 10 of our audio podcast Deadline Big Media With David Lieberman. This week, Deadline Executive Editor Lieberman and host David Bloom discuss how Quarter 3 earnings season turned out; whether DirecTV and Dish Network should merge; Cinemark’s smartphone app Cinemode to encourage people not to use their…
Cinemark To Pay $240M For Rave Cinemas
The price includes cash and assumed liabilities and will give the Texas-based exhibition chain an additional 32 theaters with 483 screens in 12 states All of the screens have digital projectors, and 37% are 3D capable. The group also includes seven IMAX screens and nine premium large format auditoriums. "The…
Theaters Need Q4 Hits To Recover From Worse-Than-Expected Q3 Box Office: Analyst
Nomura Equity Research’s Robert Fishman and Michael Nathanson slashed Q3 earnings forecasts for exhibition chains Regal and Cinemark after noting that industry sales in the quarter will be -8% vs last year — which is “worse than we expected.” They cut Regal by nearly 49% to 16 cents a share, which they say is 6 cents…
Cinemark Says It's “Working Closely” With Aurora Police
Here’s the statement from the exhibition company that owns the theater where the murders took place:
Cinemark is deeply saddened about this tragic incident. Our thoughts and prayers are with the victims, their families and loved ones, our employees, and the Aurora community. We are grateful for the quick and…
Movie Theater Finances Will Cool After A Sizzling 2012: Analyst
Don’t become too giddy over the MPAA’s optimistic forecast last week for the theatrical movie business, and the record sales for The Hunger Games. Nomura Securities analyst Robert Fishman warns today in a 91-page first look at the exhibition business that chains are in for a tough couple of years after 2012 is over…
Analyst: Studios Have “Little Chance” Of Winning Fight Over 3D Glasses
Sony’s warning that it will stop subsidizing 3D glasses is “bluster over substance,” Lazard Capital Markets analyst Barton Crockett says today. He’s struck that the National Association of Theatre Owners is vigorously opposing the idea while he’s heard no word — publicly or privately — about whether Warner Bros or Para…
Cinemark 2Q Earnings Miss On Early Debt Repayment But Revenues Beat The Street
The movie theater chain says its debt-refinancing effort sliced $4.9M from 2Q earnings. As a result Cinemark reported net profits of $40.4M, up 1.8% vs the same period last year, on revenues of $620.6M, up 15.1%. Earnings at 35 cents a share were short of the consensus forecast of 39 cents — but the company beat the…
Investors Slam Movie Theater Chains As Box Office Sales Miss Expectations
Movie theater chains Regal and Cinemark are taking it on the chin on Wall Street this morning after a weekend of disappointing box office sales — and the close of an even more dispiriting quarter. Regal’s stock price is down about 4.6% in early trading. Janney Capital Markets downgraded its stock recommendation to…
What Will Stop Wall Street's Anti-3D Debate?
Wall Street’s backlash against 3D movies is growing serious. Just weeks after movie executives and investors wondered how well 3D films would do this summer, they’ve begun to ask much tougher questions including: When will movie theater chains begin to cancel orders for 3D projection equipment? And could continued…
Kagan: 'Rio' And 'Fast Five' Only Clearly Profitable Films In April With Summer Movie Profits Poised To Fall
Don't be fooled by the headlines this summer that likely will focus on how strong movie ticket sales look compared to last year. Researchers at SNL Kagan predict that domestic box office for the period from late April to the end of August will be up 1.7% to about $4.2 billion. Not bad – especially considering that…
IMAX CEO Rich Gelfond Hopes Blockbuster Summer Will Bail Him Out After 1Q Slump
Here’s the strange thing about IMAX these days: the large screen exhibitor reported terrible financial results for the first quarter although analysts were projecting it would continue to report a profit. Yet its stock price closed up 6% at $34.24, for a more than 60% gain over the past year. Even this morning, Wall…
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