Cineplex (CGX) Downgraded by BMO Capital Markets to “Market Perform”
Cineplex (TSE:CGX) was downgraded by stock analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday. They currently have a C$37.00 target price on the stock, down from their previous target price of C$44.00. BMO Capital Markets’ target price indicates a potential upside of 9.37% from the company’s previous close.
A number of other research firms also recently commented on CGX. Raymond James Financial dropped their price objective on Cineplex from C$52.00 to C$46.00 and set an “outperform” rating for the company in a report on Tuesday, September 26th. TD Securities dropped their price objective on Cineplex from C$52.00 to C$47.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Scotiabank reiterated an “outperform” rating and issued a C$46.00 price objective on shares of Cineplex in a report on Wednesday, September 20th. Finally, National Bank Financial dropped their price objective on Cineplex from C$42.00 to C$40.50 and set a “sector perform” rating for the company in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cineplex presently has an average rating of “Buy” and a consensus target price of C$44.94.
Cineplex (TSE CGX) traded up C$0.22 during mid-day trading on Monday, hitting C$33.83. The stock had a trading volume of 284,160 shares, compared to its average volume of 340,423. The company has a market capitalization of $2,140.00, a P/E ratio of 32.84 and a beta of 0.41. Cineplex has a 12 month low of C$33.07 and a 12 month high of C$54.81.
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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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