Canaccord Genuity Group Issues Positive Forecast for Cineplex (TSE:CGX) Stock Price

Key Points

• Canaccord Genuity Group raised Cineplex’s price target to C$12.25 from C$11.50 but maintained a “hold” rating, implying approximately 4.3% downside from the stock’s current price.
• Analyst sentiment is generally positive: Cineplex has a consensus “Buy” rating and an average target price of C$14.15, with other firms setting targets between C$13.50 and C$15.00.
• Cineplex shares rose 0.1% to C$12.80, while the company’s latest quarter reported C$0.12 earnings per share and C$383.72 million in revenue.

Cineplex (TSE:CGX - Get Free Report) had its price objective hoisted by Canaccord Genuity Group from C$11.50 to C$12.25 in a report released on Monday, BayStreet reports. The firm presently has a "hold" rating on the stock. Canaccord Genuity Group's price objective suggests a potential downside of 4.30% from the stock's current price.

CGX has been the subject of a number of other reports. National Bank Financial lifted their target price on Cineplex from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. TD Securities raised shares of Cineplex to a "strong-buy" rating in a research report on Friday, July 24th. Scotiabank lifted their price objective on shares of Cineplex from C$12.00 to C$13.50 and gave the company a "sector outperform" rating in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada boosted their target price on shares of Cineplex from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of C$14.15.

Cineplex Trading Up 0.1%

Cineplex stock traded up C$0.01 during trading hours on Monday, reaching C$12.80. 190,728 shares of the company's stock were exchanged, compared to its average volume of 303,851. The company has a quick ratio of 0.22, a current ratio of 0.44 and a debt-to-equity ratio of -1,865.57. The firm's 50 day simple moving average is C$12.43 and its 200 day simple moving average is C$11.82. Cineplex has a twelve month low of C$9.15 and a twelve month high of C$13.38. The firm has a market capitalization of C$806.44 million, a PE ratio of -64.00, a PEG ratio of 0.30 and a beta of 0.35.

Cineplex (TSE:CGX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C$0.12 earnings per share for the quarter. The firm had revenue of C$383.72 million during the quarter. Cineplex had a positive return on equity of 14.84% and a negative net margin of 0.96%. Research analysts predict that Cineplex will post 1.08 earnings per share for the current year.

Cineplex Company Profile

Cineplex TSX: CGX is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 169 movie theatres and location-based entertainment venues. In addition to being Canada's largest and most innovative film exhibitor, the company operates Canada's favourite destination for 'Eats & Entertainment' (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion).

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