Cineplex (TSE:CGX) Rating Lowered to Hold at 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 research analysts at Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

CGX has been the subject of a number of other reports. Scotiabank raised their target price on shares of Cineplex from C$12.00 to C$12.75 and gave the company an "outperform" rating in a report on Wednesday. Royal Bank Of Canada increased their price target on shares of Cineplex from C$13.00 to C$14.00 in a report on Monday, May 12th.

Cineplex Stock Down 1.6%

Cineplex stock opened at C$10.56 on Wednesday. The firm has a market cap of C$666.88 million, a price-to-earnings ratio of -17.77, a PEG ratio of 0.30 and a beta of 2.74. 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. Cineplex has a 12 month low of C$8.40 and a 12 month high of C$13.09. The stock has a fifty day simple moving average of C$11.22 and a two-hundred day simple moving average of C$10.56.

About Cineplex

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.

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