National Bank Financial Issues Positive Forecast for Cineplex (TSE:CGX) Stock Price

Key Points

• National Bank Financial raised Cineplex’s price target from C$14 to C$16 and reiterated its “outperform” rating, implying 10.65% upside from the stock’s then-current price.
• Analyst sentiment was broadly positive: the stock had a consensus “Buy” rating and an average price target of C$15.08, with one Strong Buy, four Buy, and one Hold rating.
• Cineplex reported quarterly EPS of C$0.34 and revenue of C$440.2 million; its shares traded at C$14.46 on Monday.

Cineplex (TSE:CGX - Get Free Report) had its target price increased by National Bank Financial from C$14.00 to C$16.00 in a note issued to investors on Monday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective would indicate a potential upside of 10.65% from the company's current price.

CGX has been the subject of a number of other reports. TD Securities raised Cineplex to a "strong-buy" rating in a research report on Friday, July 24th. Royal Bank Of Canada boosted their target price on Cineplex from C$14.00 to C$15.00 and gave the company an "outperform" rating in a report on Tuesday, September 15th. Canaccord Genuity Group boosted their target price on Cineplex from C$11.50 to C$12.25 and gave the company a "hold" rating in a report on Monday, October 19th. Scotiabank upped their price target 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. Finally, RBC Dominion Securities increased their price target on Cineplex from C$15.00 to C$16.00 and gave the stock an "outperform" rating in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$15.08.

Cineplex Stock Performance

Shares of TSE:CGX traded up C$0.21 on Monday, reaching C$14.46. The company's stock had a trading volume of 463,437 shares, compared to its average volume of 321,573. Cineplex has a 52-week low of C$9.15 and a 52-week high of C$14.54. The stock has a market capitalization of C$911.02 million, a P/E ratio of -72.30, a PEG ratio of 0.30 and a beta of 0.15. The stock's 50-day moving average is C$12.64 and its two-hundred day moving average is C$11.49. 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.

Cineplex (TSE:CGX - Get Free Report) last released its quarterly earnings results on Friday, November 6th. The company reported C$0.34 earnings per share (EPS) for the quarter. The firm had revenue of C$440.20 million for the quarter. Cineplex had a positive return on equity of 14.84% and a negative net margin of 0.96%. As a group, sell-side analysts forecast that Cineplex will post 1.08 EPS for the current 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).

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.