Cineplex (TSE:CGX) Price Target Raised to C$13.50

Key Points

• Scotiabank raised Cineplex’s price target to C$13.50 from C$12.00 while maintaining a “sector outperform” rating, implying 9.05% upside from the reported trading price.
• Analyst sentiment is broadly positive: Cineplex has a consensus “Buy” rating and an average price target of C$13.83, with recent target increases from RBC and National Bank Financial.
• Cineplex shares rose C$0.42 to C$12.38, while the company reported quarterly revenue of C$383.72 million and earnings of C$0.12 per share despite a negative net margin of 1.72%.

Cineplex (TSE:CGX - Get Free Report) had its price objective upped by research analysts at Scotiabank from C$12.00 to C$13.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target indicates a potential upside of 9.05% from the company's current price.

A number of other equities research analysts have also recently commented on CGX. Canaccord Genuity Group raised their price target on Cineplex from C$10.50 to C$11.50 and gave the company a "hold" rating in a report on Tuesday, May 12th. TD Securities raised Cineplex to a "strong-buy" rating in a research note on Friday, July 24th. Royal Bank Of Canada increased their target price on Cineplex from C$13.00 to C$14.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, National Bank Financial lifted their target price on Cineplex from C$13.50 to C$14.00 and gave the company an "outperform" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$13.83.

Cineplex Stock Performance

Shares of TSE CGX traded up C$0.42 during trading on Wednesday, hitting C$12.38. The company had a trading volume of 458,878 shares, compared to its average volume of 279,713. Cineplex has a 12 month low of C$9.15 and a 12 month high of C$13.28. 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 firm has a market capitalization of C$779.98 million, a P/E ratio of -34.39, a price-to-earnings-growth ratio of 0.30 and a beta of 0.36. The stock has a 50 day simple moving average of C$11.87 and a 200 day simple moving average of C$10.99.

Cineplex (TSE:CGX - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported C$0.12 earnings per share for the quarter. The company had revenue of C$383.72 million for the quarter. Cineplex had a negative net margin of 1.72% and a positive return on equity of 27.72%. As a group, analysts anticipate that Cineplex will post 1.0754912 earnings per share for the current 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source