Cineplex (TSE:CGX) Stock Price Target Raised at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised Cineplex’s price target from C$12.25 to C$14.00 but maintained a “hold” rating; its target implied 3.18% downside from the prior close.
• Analyst sentiment is more positive overall: Cineplex has a consensus “Buy” rating and average price target of C$15.08, with several firms assigning “outperform” ratings.
• Cineplex reported quarterly EPS of C$0.34 and revenue of C$440.20 million. Shares rose 1.5% on Monday to C$14.46.

Cineplex (TSE:CGX - Get Free Report) had its price objective hoisted by stock analysts at Canaccord Genuity Group from C$12.25 to C$14.00 in a report issued on Monday, BayStreet reports. The firm currently has a "hold" rating on the stock. Canaccord Genuity Group's target price indicates a potential downside of 3.18% from the company's previous close.

Several other analysts also recently issued reports on the company. RBC Dominion Securities lifted their price target on Cineplex from C$15.00 to C$16.00 and gave the company an "outperform" rating in a research note on Wednesday, October 28th. Royal Bank Of Canada upped their price objective on Cineplex from C$14.00 to C$15.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 15th. Scotiabank raised their price target on shares of 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. TD Securities upgraded shares of Cineplex to a "strong-buy" rating in a report on Friday, July 24th. Finally, National Bank Financial boosted their price objective on shares of Cineplex from C$14.00 to C$16.00 and gave the stock an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$15.08.

Cineplex Stock Up 1.5%

CGX traded up C$0.21 during trading on Monday, reaching C$14.46. The company had a trading volume of 463,437 shares, compared to its average volume of 321,573. The company has a market cap of C$911.02 million, a P/E ratio of -72.30, a PEG ratio of 0.30 and a beta of 0.15. Cineplex has a 12 month low of C$9.15 and a 12 month high of C$14.54. The company has a debt-to-equity ratio of -1,865.57, a current ratio of 0.44 and a quick ratio of 0.22. The business's fifty day moving average price is C$12.64 and its 200 day moving average price is C$11.49.

Cineplex (TSE:CGX - Get Free Report) last issued its quarterly earnings data on Friday, November 6th. The company reported C$0.34 earnings per share (EPS) for the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. The company had revenue of C$440.20 million during the quarter. Equities analysts anticipate that Cineplex will post 1.08 EPS 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.