Cineplex (TSE:CGX) Price Target Raised to C$13.50

Cineplex (TSE:CGX) had its target price lifted by stock analysts at Scotiabank from C$12.00 to C$13.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 9.05% from the stock’s previous close.

CGX has been the subject of a number of other reports. Canaccord Genuity Group increased their target price on Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a research report on Tuesday, May 12th. TD Securities raised shares of Cineplex to a “strong-buy” rating in a research note on Friday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Cineplex from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, National Bank Financial upped their target price on shares of Cineplex from C$13.50 to C$14.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$13.83.

Cineplex Price Performance

Shares of TSE:CGX traded up C$0.42 during mid-day trading on Wednesday, reaching C$12.38. The stock had a trading volume of 458,878 shares, compared to its average volume of 279,713. The company has a current ratio of 0.37, a quick ratio of 0.22 and a debt-to-equity ratio of -1,703.50. The company has a market cap of C$779.98 million, a P/E ratio of -34.39, a price-to-earnings-growth ratio of 0.30 and a beta of 0.36. Cineplex has a 1 year low of C$9.15 and a 1 year high of C$13.28. The business’s 50 day moving average price is C$11.87 and its 200 day moving average price is C$10.99.

Cineplex (TSE:CGX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported C$0.12 EPS for the quarter. The company had revenue of C$383.72 million during the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%. Research analysts expect that Cineplex will post 1.0754912 EPS for the current fiscal 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.