Brokerages Set Cineplex Inc. (TSE:CGX) Target Price at C$12.88

Shares of Cineplex Inc. (TSE:CGX) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$12.88.

CGX has been the topic of several analyst reports. National Bankshares dropped their price target on shares of Cineplex from C$13.50 to C$12.50 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Scotiabank increased their price objective on shares of Cineplex from C$11.00 to C$11.25 and gave the company an “outperform” rating in a research report on Friday, March 8th. Royal Bank of Canada dropped their price objective on shares of Cineplex from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Friday, February 9th. BMO Capital Markets increased their price objective on shares of Cineplex from C$11.50 to C$12.50 and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of Cineplex from C$13.75 to C$13.00 and set a “buy” rating on the stock in a research report on Friday, February 9th.

Cineplex Stock Performance

TSE CGX opened at C$8.87 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.22 and a debt-to-equity ratio of 7,933.30. The firm’s fifty day moving average price is C$7.75 and its two-hundred day moving average price is C$8.17. Cineplex has a 1 year low of C$7.14 and a 1 year high of C$10.26. The firm has a market capitalization of C$564.84 million, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.30 and a beta of 2.88.

Cineplex (TSE:CGX) last posted its quarterly earnings results on Thursday, February 8th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$315.08 million for the quarter, compared to analysts’ expectations of C$359.50 million. As a group, research analysts anticipate that Cineplex will post 0.5121951 EPS for the current year.

Insider Buying and Selling

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

Cineplex Company Profile

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.