Cineplex Coverage Initiated at Hudson Square Research (CGX)
Analysts at Hudson Square Research initiated coverage on shares of Cineplex (TSE:CGX) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a C$47.00 price target on the stock. Hudson Square Research’s price target suggests a potential upside of 12.55% from the company’s current price.
A number of other analysts have also recently weighed in on CGX. Analysts at Scotiabank raised their price target on shares of Cineplex from C$44.00 to C$44.25 in a research note on Tuesday, June 24th. They now have an “outperform” rating on the stock. Separately, analysts at National Bank Financial cut their price target on shares of Cineplex from C$48.50 to C$45.50 in a research note on Friday, May 9th. They now have an “outperform” rating on the stock. Finally, analysts at NBF reiterated an “outperform” rating on shares of Cineplex in a research note on Friday, May 9th. They now have a C$45.50 price target on the stock, down previously from C$48.50. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$42.73.
Shares of Cineplex (TSE:CGX) traded down 1.03% during mid-day trading on Monday, hitting $41.33. 40,484 shares of the company’s stock traded hands. Cineplex has a 52-week low of $36.75 and a 52-week high of $44.85. The stock has a 50-day moving average of $41.03 and a 200-day moving average of $41.49. The company has a market cap of $2.602 billion and a price-to-earnings ratio of 32.88.
Cineplex (TSE:CGX) last announced its earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.14 by $0.06. On average, analysts predict that Cineplex will post $1.65 earnings per share for the current fiscal year.
The company also recently declared a jun 14 dividend, which is scheduled for Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.125 per share. This represents a yield of 3.6%. The ex-dividend date of this dividend is Thursday, June 26th.
Cineplex Inc (TSE:CGX) owns 100% of Cineplex Entertainment Limited Partnership (the Partnership).
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