Cineplex Inc (CGX) Receives Average Rating of “Buy” from Brokerages
Shares of Cineplex Inc (TSE:CGX) have been assigned an average recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is C$56.88.
A number of equities analysts have issued reports on the company. Scotiabank cut their price target on Cineplex from C$60.00 to C$57.00 and set an “outperform” rating on the stock in a report on Thursday. Raymond James Financial, Inc. restated an “outperform” rating and set a C$58.00 price target on shares of Cineplex in a report on Tuesday, June 27th. CIBC increased their price target on Cineplex from C$54.00 to C$55.00 in a report on Wednesday, May 3rd. Royal Bank Of Canada increased their price target on Cineplex from C$53.00 to C$54.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 3rd. Finally, BMO Capital Markets restated an “outperform” rating and set a C$58.00 price target on shares of Cineplex in a report on Wednesday, May 3rd.
Shares of Cineplex (TSE:CGX) remained flat at $49.86 during mid-day trading on Friday. The company had a trading volume of 9,765 shares. The firm has a market cap of $3.17 billion and a P/E ratio of 39.04. Cineplex has a 52 week low of $48.55 and a 52 week high of $54.81. The company’s 50 day moving average price is $51.99 and its 200 day moving average price is $51.81.
The company also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, July 27th.
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Cineplex Company Profile
Cineplex Inc (Cineplex) is a Canada-based film exhibition company. The Company’s segments include Exhibition and Media. The Exhibition segment includes all direct and ancillary revenues from theatre attendance, including box office and food service revenues. The Exhibition segment also includes amusement gaming and leisure, theatre rentals and digital commerce rental and sales.
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