National Bank Financial Issues Positive Forecast for Cineplex (TSE:CGX) Stock Price

Key Points

• National Bank Financial raised Cineplex’s price target to C$14.00 from C$13.50 and maintained an “outperform” rating, implying 13.09% potential upside.
• Analyst sentiment is broadly positive: Cineplex has an average “Buy” rating and a consensus price target of C$13.83, with TD Securities recently upgrading the stock to “strong buy.”
• Cineplex shares rose 3.5% to C$12.38, while the company reported quarterly EPS of C$0.12 and revenue of C$383.72 million; however, it continued to post a negative net margin of 1.72%.

Cineplex (TSE:CGX - Get Free Report) had its price target upped by equities research analysts at National Bank Financial from C$13.50 to C$14.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's target price suggests a potential upside of 13.09% from the stock's current price.

Several other brokerages have also recently commented on CGX. TD Securities upgraded shares of Cineplex to a "strong-buy" rating in a report on Friday, July 24th. Canaccord Genuity Group boosted their price target on shares of Cineplex from C$10.50 to C$11.50 and gave the stock a "hold" rating in a research report on Tuesday, May 12th. One equities research 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, the stock currently has an average rating of "Buy" and a consensus price target of C$13.83.

Cineplex Stock Up 3.5%

TSE:CGX traded up C$0.42 during trading hours on Wednesday, reaching C$12.38. 458,878 shares of the stock were exchanged, compared to its average volume of 279,713. The stock has a market cap of C$779.98 million, a PE ratio of -34.39, a PEG ratio of 0.30 and a beta of 0.36. Cineplex has a twelve month low of C$9.15 and a twelve month high of C$13.28. The firm has a 50 day moving average of C$11.87 and a 200 day moving average of C$10.99. The company has a debt-to-equity ratio of -1,703.50, a current ratio of 0.37 and a quick ratio of 0.22.

Cineplex (TSE:CGX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported C$0.12 earnings per share (EPS) 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%. On average, equities analysts expect 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.

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