Cineplex (CGX) Raised to Outperform at National Bank Financial

Cineplex (TSE:CGX) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a C$35.50 target price on the stock, down from their prior target price of C$38.00. National Bank Financial’s price objective would suggest a potential upside of 16.13% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets cut Cineplex from an “outperform” rating to a “market perform” rating and dropped their price target for the company from C$44.00 to C$37.00 in a research report on Monday, January 15th. TD Securities dropped their price target on Cineplex from C$52.00 to C$47.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. Raymond James Financial dropped their price target on Cineplex from C$52.00 to C$46.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 26th. Finally, Scotiabank dropped their price target on Cineplex from C$46.00 to C$45.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of C$44.31.

Shares of Cineplex (CGX) traded down C$0.18 during mid-day trading on Tuesday, reaching C$30.57. The company had a trading volume of 626,381 shares, compared to its average volume of 682,022. The firm has a market cap of $1,900.00, a PE ratio of 29.68 and a beta of 0.41. Cineplex has a 1 year low of C$29.25 and a 1 year high of C$54.81.

Cineplex (TSE:CGX) last issued its quarterly earnings results on Tuesday, November 7th. The company reported C$0.27 earnings per share (EPS) for the quarter. Cineplex had a return on equity of 9.62% and a net margin of 4.65%.

In other Cineplex news, insider Gordon Nelson bought 4,000 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were bought at an average price of C$36.00 per share, for a total transaction of C$144,000.00. Also, insider Lorraine Marie Legault bought 1,625 shares of the company’s stock in a transaction on Friday, December 15th. The shares were acquired at an average price of C$39.82 per share, for a total transaction of C$64,707.50. Insiders have acquired a total of 10,625 shares of company stock worth $394,058 in the last quarter.

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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.

Analyst Recommendations for Cineplex (TSE:CGX)

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