Cineplex Inc. Expected to Post FY2024 Earnings of $0.43 Per Share (TSE:CGX)

Cineplex Inc. (TSE:CGX) – Equities research analysts at National Bank Financial increased their FY2024 earnings estimates for Cineplex in a note issued to investors on Wednesday, April 10th. National Bank Financial analyst A. Shine now anticipates that the company will post earnings per share of $0.43 for the year, up from their previous forecast of $0.40. The consensus estimate for Cineplex’s current full-year earnings is $0.51 per share.

Cineplex (TSE:CGX) last released its quarterly earnings data on Thursday, February 8th. The company reported C($0.19) EPS for the quarter. The business had revenue of C$315.08 million for the quarter, compared to analyst estimates of C$359.50 million.

Several other equities research analysts have also issued reports on CGX. Scotiabank raised their target price on shares of Cineplex from C$11.00 to C$11.25 and gave the stock an “outperform” rating in a report on Friday, March 8th. Royal Bank of Canada lowered their target price on shares of Cineplex from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, February 9th. National Bankshares lowered their target price on shares of Cineplex from C$13.50 to C$12.50 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Canaccord Genuity Group lowered their target price on shares of Cineplex from C$13.75 to C$13.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, BMO Capital Markets raised their target price on shares of Cineplex from C$11.50 to C$12.50 and gave the stock a “market perform” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cineplex currently has an average rating of “Moderate Buy” and an average target price of C$12.88.

Cineplex Price Performance

CGX stock opened at C$7.68 on Monday. Cineplex has a 52 week low of C$7.14 and a 52 week high of C$10.26. The company has a quick ratio of 0.22, a current ratio of 0.55 and a debt-to-equity ratio of 7,933.30. The company has a fifty day simple moving average of C$7.71 and a two-hundred day simple moving average of C$8.22. The firm has a market capitalization of C$489.06 million, a P/E ratio of 4.27, a price-to-earnings-growth ratio of 0.30 and a beta of 2.88.

Insider Buying and Selling

In related news, Senior Officer Gordon Nelson purchased 10,000 shares of Cineplex stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of C$7.47 per share, with a total value of C$74,700.00. In other Cineplex news, Senior Officer Gordon Nelson bought 10,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of C$7.47 per share, with a total value of C$74,700.00. Also, Senior Officer Kevin David Watts bought 3,200 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of C$7.92 per share, for a total transaction of C$25,344.00. Insiders have purchased 14,500 shares of company stock valued at $109,911 in the last 90 days. Company insiders own 1.52% of the company’s stock.

About Cineplex

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.