Cineplex (TSE:CGX) PT Raised to C$12.00 at Scotiabank

Cineplex (TSE:CGX) had its price objective raised by investment analysts at Scotiabank from C$10.00 to C$12.00 in a report issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 23.20% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CGX. Desjardins boosted their price objective on shares of Cineplex from C$52.00 to C$53.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Canaccord Genuity Group cut their price target on shares of Cineplex from C$12.50 to C$12.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Royal Bank of Canada cut their price target on shares of Cineplex from C$14.00 to C$13.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Cineplex presently has a consensus rating of “Moderate Buy” and an average price target of C$18.43.

Cineplex Stock Up 0.8 %

Shares of CGX traded up C$0.08 during midday trading on Monday, hitting C$9.74. The company had a trading volume of 410,243 shares, compared to its average volume of 377,838. The company’s 50 day moving average price is C$8.25 and its 200 day moving average price is C$8.09. The stock has a market cap of C$620.24 million, a price-to-earnings ratio of -8.65, a PEG ratio of 0.30 and a beta of 2.74. Cineplex has a 52 week low of C$7.10 and a 52 week high of C$9.85. The company has a quick ratio of 0.22, a current ratio of 0.41 and a debt-to-equity ratio of 30,533.69.

Cineplex (TSE:CGX) last released its earnings results on Thursday, May 9th. The company reported C($0.56) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.41). The firm had revenue of C$294.76 million for the quarter, compared to the consensus estimate of C$292.60 million. On average, equities research analysts predict that Cineplex will post 0.1072261 EPS for the current year.

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.