Cineplex (TSE:CGX) Stock Gets Price Target Bump from RBC Dominion Securities

Key Points

• RBC Dominion Securities raised Cineplex’s price target from C$15.00 to C$16.00 while maintaining an “outperform” rating, implying approximately 23.84% upside from the current price.
• Analyst sentiment remains positive: Cineplex has a consensus “Buy” rating and a C$14.46 average target price, with recent target increases from National Bank Financial, Canaccord Genuity, RBC, and Scotiabank.
• Cineplex shares were flat at C$12.92, with the company reporting C$0.12 in quarterly EPS and C$383.72 million in revenue; analysts expect C$1.08 EPS for the current fiscal year.

Cineplex (TSE:CGX - Get Free Report) had its target price raised by RBC Dominion Securities from C$15.00 to C$16.00 in a note issued to investors on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. RBC Dominion Securities's price target points to a potential upside of 23.84% from the company's current price.

A number of other brokerages have also recently commented on CGX. National Bank Financial boosted their price target on Cineplex from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Canaccord Genuity Group raised their price objective on Cineplex from C$11.50 to C$12.25 and gave the company a "hold" rating in a research report on Monday, October 19th. Royal Bank Of Canada lifted their price objective on Cineplex from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research note on Tuesday, September 15th. TD Securities raised Cineplex to a "strong-buy" rating in a report on Friday, July 24th. Finally, Scotiabank increased their target price on Cineplex from C$12.00 to C$13.50 and gave the stock a "sector outperform" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of C$14.46.

Cineplex Stock Performance

TSE:CGX remained flat at C$12.92 during midday trading on Wednesday. 106,917 shares of the company were exchanged, compared to its average volume of 303,180. The business has a 50 day moving average of C$12.50 and a two-hundred day moving average of C$11.38. Cineplex has a 52 week low of C$9.15 and a 52 week high of C$13.38. 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 has a market capitalization of C$814.00 million, a PE ratio of -64.60, a P/E/G ratio of 0.30 and a beta of 0.35.

Cineplex (TSE:CGX - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported C$0.12 EPS for the quarter. The company 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%. On average, analysts predict that Cineplex will post 1.08 EPS for the current fiscal year.

About Cineplex

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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