Cineplex (TSE:CGX) Hits New 1-Year High - Here's What Happened

Key Points

• Cineplex shares reached a new 52-week high, trading as high as C$12.72, up from the previous close of C$12.44.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and a C$13.46 price target, with TD Securities upgrading it to “strong buy.”
• Cineplex reported quarterly revenue of C$290.98 million and a loss of C$0.36 per share; despite a negative net margin, analysts expect full-year earnings per share of about C$1.08.

Cineplex Inc. (TSE:CGX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$12.72 and last traded at C$12.71, with a volume of 256114 shares changing hands. The stock had previously closed at C$12.44.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Canaccord Genuity Group increased their price target on Cineplex from C$10.50 to C$11.50 and gave the company a "hold" rating in a research report on Tuesday, May 12th. National Bank Financial cut their price objective on shares of Cineplex from C$14.00 to C$13.50 and set an "outperform" rating on the stock in a report on Tuesday, May 12th. Finally, TD Securities upgraded shares of Cineplex to a "strong-buy" rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of C$13.46.

Cineplex Price Performance

The stock has a market cap of C$803.29 million, a PE ratio of -35.42, a P/E/G ratio of 0.30 and a beta of 0.35. The company has a debt-to-equity ratio of -1,703.50, a quick ratio of 0.22 and a current ratio of 0.37. The business has a 50 day moving average price of C$11.60 and a two-hundred day moving average price of C$10.87.

Cineplex (TSE:CGX - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported C($0.36) EPS for the quarter. The business had revenue of C$290.98 million for the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%. Research analysts expect that Cineplex Inc. 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.

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.