Cineplex (CGX) Sets New 52-Week Low at $34.30

Cineplex Inc (TSE:CGX) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$34.30 and last traded at C$36.46, with a volume of 330079 shares changing hands. The stock had previously closed at C$37.58.

A number of equities research analysts recently issued reports on the company. National Bank Financial lowered their price objective on Cineplex from C$42.00 to C$40.50 and set a “sector perform” rating on the stock in a research note on Wednesday, November 8th. TD Securities lowered their price objective on Cineplex from C$52.00 to C$47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Raymond James Financial reduced their target price on Cineplex from C$52.00 to C$46.00 and set an “outperform” rating for the company in a report on Tuesday, September 26th. Finally, Scotiabank reaffirmed an “outperform” rating and set a C$46.00 target price on shares of Cineplex in a report on Wednesday, September 20th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Cineplex has a consensus rating of “Buy” and an average target price of C$46.81.

The company has a market capitalization of $2,310.00, a price-to-earnings ratio of 33.39 and a beta of 0.41.

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Thursday, December 28th. Cineplex’s payout ratio is presently 159.71%.

In other Cineplex news, insider Lorraine Marie Legault acquired 1,625 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was bought at an average price of C$39.82 per share, with a total value of C$64,707.50. Also, insider Gordon Nelson acquired 4,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average cost of C$36.00 per share, with a total value of C$144,000.00. Insiders have acquired a total of 10,625 shares of company stock valued at $394,058 in the last ninety days.

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About Cineplex

Cineplex Inc (Cineplex) is a Canada-based film exhibition company. The Company’s segments include Exhibition and Media. The Exhibition segment includes all direct and ancillary revenues from theatre attendance, including box office and food service revenues. The Exhibition segment also includes amusement gaming and leisure, theatre rentals and digital commerce rental and sales.

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