12:24 PM EDT, 07/29/2024 (MT Newswires) -- Cinemark (CNK) is poised to beat Wall Street expectations when it reports its Q2 financial results later this week, Wedbush analysts said Monday in a new research note Monday.

The cinema chain is likely going to outpace consensus views on revenue and earnings before interest, taxes, depreciation and amortization for the three months ended June 30.

Their optimism is supported by several key metrics, including increased market share, a small bump in ticket prices and a more consistent slate of movie releases during the quarter.

Cinemark likely captured a larger portion of the movie-going public compared with its rivals during the quarter, with its market share climbing around 40 basis points over the prior 12 months to reach 14.3%, Wedbush analysts said.

Q2 revenue likely reached $704 million, up from Wedbush's initial forecast and topping the consensus polled by Capital IQ at $693.2 million.

"We think Cinemark remains focused on maintaining the highest quality footprint, growing its loyalty membership and reducing its debt" as the company looks to 2025 from a position of strength, the Wedbush analysts said, reiterating outperform rating and a $25 price price target.

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