TD Securities Upgrades Cineplex (TSE:CGX) to "Strong-Buy"

Key Points

• TD Securities upgraded Cineplex to “strong-buy,” adding a more bullish view on the stock from one of the analysts covering the company.
• Other analysts remain generally positive: the stock now has an average “Buy” rating, with one strong buy, three buy ratings, and one hold, and an average price target of C$13.46.
• Cineplex shares opened at C$12.00, near their 52-week high of C$12.72, after the company recently reported quarterly revenue of C$290.98 million and EPS of C($0.36).

Cineplex (TSE:CGX - Get Free Report) was upgraded by investment analysts at TD Securities to a "strong-buy" rating in a note issued to investors on Friday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group increased their price target on Cineplex from C$10.50 to C$11.50 and gave the stock a "hold" rating in a report on Tuesday, May 12th. National Bank Financial dropped their price objective on shares of Cineplex from C$14.00 to C$13.50 and set an "outperform" rating on the stock in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of C$13.46.

Cineplex Stock Performance

Shares of CGX stock opened at C$12.00 on Friday. The stock's 50-day moving average price is C$11.48 and its 200 day moving average price is C$10.82. The company has a quick ratio of 0.22, a current ratio of 0.37 and a debt-to-equity ratio of -1,703.50. The stock has a market capitalization of C$756.04 million, a PE ratio of -33.33, a price-to-earnings-growth ratio of 0.30 and a beta of 0.35. Cineplex has a 52-week low of C$9.15 and a 52-week high of C$12.72.

Cineplex (TSE:CGX - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported C($0.36) earnings per share for the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%.The company had revenue of C$290.98 million for the quarter. As a group, equities research analysts forecast that Cineplex will post 1.0754912 EPS 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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