Cineplex Rating Reiterated by Scotiabank (CGX)
Cineplex (TSE:CGX)‘s stock had its “outperform” rating restated by equities researchers at Scotiabank in a research report issued on Tuesday. They currently have a C$44.25 price objective on the stock. Scotiabank’s target price would suggest a potential upside of 14.08% from the stock’s previous close.
Cineplex (TSE:CGX) traded down 0.41% during mid-day trading on Tuesday, hitting $38.63. The stock had a trading volume of 169,095 shares. Cineplex has a one year low of $37.18 and a one year high of $44.85. The stock has a 50-day moving average of $40.47 and a 200-day moving average of $40.98. The company has a market cap of $2.432 billion and a P/E ratio of 30.54.
Cineplex (TSE:CGX) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.14 by $0.06. On average, analysts predict that Cineplex will post $1.53 earnings per share for the current fiscal year.
The company also recently declared a jul 14 dividend, which is scheduled for Sunday, August 31st. Shareholders of record on Thursday, July 31st will be given a dividend of $0.125 per share.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Cineplex in a research note on Wednesday, July 9th. They now have a C$44.00 price target on the stock, down previously from C$45.00. Separately, analysts at Hudson Square Research initiated coverage on shares of Cineplex in a research note on Monday, July 7th. They set a “buy” rating and a C$47.00 price target on the stock. Finally, 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Cineplex has a consensus rating of “Buy” and an average price target of C$42.69.
Cineplex Inc (TSE:CGX) owns 100% of Cineplex Entertainment Limited Partnership (the Partnership).
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