National Bankshares Issues Pessimistic Forecast for Cineplex (TSE:CGX) Stock Price

Key Points

• National Bankshares has reduced its price target for Cineplex (TSE:CGX) from C$13.50 to C$13.00, indicating a potential upside of 9.89% from the stock's previous close.
• Other analysts, including Scotiabank and Canaccord Genuity, have varied ratings on Cineplex, with recent price targets ranging from C$12.75 to a hold rating.
• Cineplex's stock is currently trading at C$11.83, showing moderate volatility and a significant debt-to-equity ratio of -4,623.78.

Cineplex (TSE:CGX - Get Free Report) had its price target reduced by equities research analysts at National Bankshares from C$13.50 to C$13.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bankshares' price objective indicates a potential upside of 9.89% from the stock's previous close.

A number of other equities analysts have also recently commented on the stock. Scotiabank boosted their price target on shares of Cineplex from C$12.00 to C$12.75 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Canaccord Genuity Group cut shares of Cineplex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$12.55.

Cineplex Price Performance

CGX stock traded down C$0.10 during midday trading on Tuesday, reaching C$11.83. The company had a trading volume of 317,636 shares, compared to its average volume of 273,411. The company has a debt-to-equity ratio of -4,623.78, a current ratio of 0.43 and a quick ratio of 0.22. Cineplex has a 1 year low of C$8.40 and a 1 year high of C$13.09. The company has a market capitalization of C$750.50 million, a P/E ratio of -12.45, a P/E/G ratio of 0.30 and a beta of 0.49. The firm has a 50-day moving average price of C$11.40 and a 200-day moving average price of C$10.79.

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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