Cineplex Receives Consensus Recommendation of “Buy” from Brokerages (TSE:CGX)
Cineplex (TSE:CGX) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, AmericanBankingNews.com reports. Two analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$43.83.
A number of research firms have recently commented on CGX. Analysts at CIBC raised their price target on shares of Cineplex from C$42.00 to C$43.00 in a research note on Thursday, August 7th. They now have a “sector perform” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Cineplex from C$44.00 to C$45.00 in a research note on Thursday, August 7th. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity upgraded shares of Cineplex from a “hold” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a C$42.00 price target on the stock, up previously from C$39.00.
Shares of Cineplex (TSE:CGX) opened at 40.39 on Tuesday. Cineplex has a 1-year low of $37.74 and a 1-year high of $44.85. The stock has a 50-day moving average of $40.19 and a 200-day moving average of $40.87. The company has a market cap of $2.543 billion and a P/E ratio of 33.92.
Cineplex (TSE:CGX) last announced its earnings results on Thursday, August 7th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.03. On average, analysts predict that Cineplex will post $1.46 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.
Cineplex Inc (TSE:CGX) owns 100% of Cineplex Entertainment Limited Partnership (the Partnership).
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