Cineplex’s Sector Outperform Rating Reaffirmed at Scotiabank (CGX)
Cineplex (TSE:CGX)‘s stock had its “sector outperform” rating reiterated by equities research analysts at Scotiabank in a research note issued to investors on Thursday, Analyst Ratings News reports. They currently have a C$47.00 target price on the stock. Scotiabank’s target price would suggest a potential upside of 8.44% from the company’s current price.
Cineplex (TSE:CGX) traded up 0.77% on Thursday, hitting $43.34. The stock had a trading volume of 167,339 shares. Cineplex has a 1-year low of $30.56 and a 1-year high of $43.79. The stock’s 50-day moving average is $42.23 and its 200-day moving average is $38.85. The company has a price-to-earnings ratio of 27.93.
The company also recently announced a nov 13 dividend, which is scheduled for Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of 0.12 per share.
A number of other analysts have also recently weighed in on CGX. Analysts at CIBC downgraded shares of Cineplex from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, November 6th. Separately, analysts at RBC Capital raised their price target on shares of Cineplex from C$40.00 to C$41.00 in a research note to investors on Wednesday, November 6th. They now have a “sector perform” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Cineplex from C$35.00 to C$36.00 in a research note to investors on Monday, October 21st. They now have a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of C$39.06.
Cineplex Inc (TSE:CGX) directly and indirectly owns 100% of Cineplex Entertainment Limited Partnership (the Partnership).
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