Cineplex Inc (CGX) Receives Consensus Rating of “Buy” from Analysts

Cineplex Inc (TSE:CGX) has been given an average rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$34.00.

Several equities research analysts have commented on CGX shares. National Bank Financial upgraded shares of Cineplex from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from C$32.50 to C$33.50 in a research report on Monday, August 20th. Raymond James raised their price target on Cineplex from C$36.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. CIBC raised their price target on Cineplex from C$32.50 to C$36.00 in a research note on Monday, November 5th. Finally, Royal Bank of Canada decreased their price target on Cineplex from C$39.00 to C$36.00 and set an “outperform” rating for the company in a research note on Thursday, November 15th.

Shares of TSE CGX traded up C$0.27 during midday trading on Monday, reaching C$26.01. 294,400 shares of the company traded hands, compared to its average volume of 295,799. Cineplex has a 52 week low of C$24.58 and a 52 week high of C$39.99. The company has a debt-to-equity ratio of 91.04, a quick ratio of 0.28 and a current ratio of 0.40.

Cineplex (TSE:CGX) last issued its quarterly earnings results on Wednesday, November 14th. The company reported C$0.16 EPS for the quarter, missing the consensus estimate of C$0.30 by C($0.14). The business had revenue of C$386.72 million for the quarter, compared to analysts’ expectations of C$405.60 million. On average, sell-side analysts expect that Cineplex will post 1.41999995414072 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, November 30th will be given a $0.145 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 6.69%. Cineplex’s payout ratio is 137.39%.

In other Cineplex news, insider Daniel F. Mcgrath acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was bought at an average cost of C$25.65 per share, with a total value of C$102,600.00.

About Cineplex

Cineplex Inc, through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure. The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatre and digital commerce.

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Analyst Recommendations for Cineplex (TSE:CGX)

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