Cineplex (TSE:CGX) Lowered to "Hold" Rating by Canaccord Genuity Group

Key Points

• Cineplex's rating was downgraded from a "strong-buy" to a "hold" by Canaccord Genuity Group, reflecting a change in investor sentiment.
• Scotiabank and Royal Bank of Canada both raised their target prices for Cineplex shares, with new targets set at C$12.75 and C$14.00, respectively.
• Cineplex's stock price fell by 1.6%, trading at C$10.56, with a market cap of C$666.88 million.

Cineplex (TSE:CGX - Get Free Report) was downgraded by Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also commented on the stock. Scotiabank increased their price target on shares of Cineplex from C$12.00 to C$12.75 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada raised their price objective on shares of Cineplex from C$13.00 to C$14.00 in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$12.65.

Cineplex Trading Up 0.7%

Shares of TSE CGX traded up C$0.08 during mid-day trading on Wednesday, reaching C$10.78. The company had a trading volume of 65,818 shares, compared to its average volume of 264,533. The business's 50-day moving average is C$11.18 and its 200-day moving average is C$10.55. The company has a current ratio of 0.43, a quick ratio of 0.22 and a debt-to-equity ratio of -4,623.78. The stock has a market cap of C$680.78 million, a price-to-earnings ratio of -18.14, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74. Cineplex has a 52 week low of C$8.40 and a 52 week high of C$13.09.

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.