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

Key Points

• Canaccord Genuity raised its target on Cineplex from C$9.00 to C$10.50 while keeping a "hold" rating, and that target implies about a 12.35% downside from the current price.
• Across analysts Cineplex has a consensus rating of Moderate Buy with a consensus target of C$13.21 (four buys, one hold), although a few brokers have recently trimmed their price targets.
• The shares traded at C$11.98 midday with a market cap of ~C$760M; the company posted C$0.01 EPS and C$334.77M revenue for the quarter but shows a negative P/E (-20.66) and negative net margin (-2.84%).

Cineplex (TSE:CGX - Get Free Report) had its target price increased by analysts at Canaccord Genuity Group from C$9.00 to C$10.50 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Canaccord Genuity Group's price target points to a potential downside of 12.35% from the stock's current price.

CGX has been the topic of a number of other research reports. TD Securities reduced their target price on Cineplex from C$17.00 to C$16.00 and set a "buy" rating on the stock in a report on Friday, January 16th. Royal Bank Of Canada cut their price objective on Cineplex from C$14.00 to C$13.00 and set an "outperform" rating on the stock in a report on Tuesday, February 3rd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Cineplex currently has a consensus rating of "Moderate Buy" and a consensus target price of C$13.21.

Cineplex Stock Performance

Shares of CGX traded up C$0.69 during mid-day trading on Thursday, reaching C$11.98. The company's stock had a trading volume of 1,001,986 shares, compared to its average volume of 297,028. The stock has a market cap of C$760.32 million, a P/E ratio of -20.66, a PEG ratio of 0.30 and a beta of 0.10. The company has a current ratio of 0.52, a quick ratio of 0.22 and a debt-to-equity ratio of -2,256.39. Cineplex has a 1-year low of C$8.88 and a 1-year high of C$12.72. The business has a 50-day simple moving average of C$10.23 and a two-hundred day simple moving average of C$10.92.

Cineplex (TSE:CGX - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported C$0.01 earnings per share for the quarter. Cineplex had a positive return on equity of 49.30% and a negative net margin of 2.84%.The company had revenue of C$334.77 million for the quarter. As a group, equities research analysts anticipate that Cineplex will post 1.0754912 earnings per share for the current fiscal year.

Cineplex Company Profile

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.

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