Cineplex Inc (CGX) Receives Average Rating of “Buy” from Brokerages
Cineplex Inc (TSE:CGX) has been assigned an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$47.63.
CGX has been the topic of a number of recent analyst reports. Raymond James Financial, Inc. lowered their target price on shares of Cineplex from C$52.00 to C$46.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 26th. Scotiabank reiterated an “outperform” rating and set a C$46.00 target price on shares of Cineplex in a research report on Wednesday, September 20th. BMO Capital Markets cut their price target on shares of Cineplex from C$48.00 to C$44.00 and set an “outperform” rating for the company in a research note on Wednesday, September 6th. National Bank Financial cut their price target on shares of Cineplex from C$46.00 to C$42.00 and set a “sector perform” rating for the company in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada raised shares of Cineplex from a “sector perform” rating to an “outperform” rating and decreased their price target for the stock from C$54.00 to C$50.00 in a report on Thursday, August 3rd.
In other Cineplex news, insider Daniel F. Mcgrath purchased 10,000 shares of Cineplex stock in a transaction on Thursday, September 7th. The shares were acquired at an average cost of C$38.59 per share, for a total transaction of C$385,900.00.
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Shares of Cineplex (TSE CGX) traded up 0.33% during trading on Wednesday, reaching $39.39. 21,351 shares of the company traded hands. The firm’s 50-day moving average is $38.65 and its 200-day moving average is $47.88. Cineplex has a 12-month low of $34.43 and a 12-month high of $54.81. The stock has a market capitalization of $2.50 billion and a PE ratio of 33.38.
The company also recently announced a monthly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.14 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.68 dividend on an annualized basis and a yield of 4.28%.
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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