Cineplex Inc (CGX) Given Average Rating of “Buy” by Analysts
Shares of Cineplex Inc (TSE:CGX) have received an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$48.38.
CGX has been the subject of a number of recent analyst reports. Scotiabank decreased their price objective on Cineplex from C$49.00 to C$46.00 and set an “outperform” rating for the company in a report on Wednesday, August 23rd. National Bank Financial decreased their price objective on Cineplex from C$46.00 to C$42.00 and set a “sector perform” rating for the company in a report on Thursday, August 17th. BMO Capital Markets decreased their price objective on Cineplex from C$48.00 to C$44.00 and set an “outperform” rating for the company in a report on Wednesday. Royal Bank Of Canada raised Cineplex from a “sector perform” rating to an “outperform” rating and decreased their price objective for the stock from C$54.00 to C$50.00 in a report on Thursday, August 3rd. Finally, TD Securities decreased their price objective on Cineplex from C$64.00 to C$52.00 and set a “buy” rating for the company in a report on Thursday, August 3rd.
Cineplex (CGX) traded down 0.03% during mid-day trading on Friday, hitting $38.02. The stock had a trading volume of 291,215 shares. The company has a 50-day moving average of $42.12 and a 200-day moving average of $49.35. Cineplex has a 12-month low of $34.43 and a 12-month high of $54.81. The stock has a market cap of $2.42 billion and a price-to-earnings ratio of 32.22.
The company also recently announced a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a $0.14 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.68 dividend on an annualized basis and a yield of 4.42%.
In other news, insider Daniel F. Mcgrath bought 10,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average cost of C$38.59 per share, for a total transaction of C$385,900.00.
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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