Canaccord Genuity Group Forecasts Strong Price Appreciation for Cineplex (TSE:CGX) Stock

Cineplex (TSE:CGX) had its target price upped by research analysts at Canaccord Genuity Group from C$10.50 to C$11.50 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 6.19% from the stock’s current price.

A number of other brokerages have also recently commented on CGX. TD Securities dropped their price objective on shares of Cineplex from C$17.00 to C$16.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Royal Bank Of Canada dropped their price target on shares of Cineplex from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. Finally, National Bank Financial dropped their price target on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Cineplex has an average rating of “Moderate Buy” and a consensus price target of C$13.46.

Cineplex Stock Performance

Shares of TSE CGX traded up C$0.06 during midday trading on Tuesday, reaching C$10.83. 333,107 shares of the stock were exchanged, compared to its average volume of 299,123. The firm has a market cap of C$687.34 million, a price-to-earnings ratio of -18.67, a PEG ratio of 0.30 and a beta of 0.11. Cineplex has a twelve month low of C$9.15 and a twelve month high of C$12.72. The firm has a 50-day simple moving average of C$10.77 and a two-hundred day simple moving average of C$10.90. The company has a quick ratio of 0.22, a current ratio of 0.52 and a debt-to-equity ratio of -2,256.39.

Cineplex (TSE:CGX) last issued its quarterly earnings data on Monday, May 11th. The company reported C($0.36) EPS for the quarter. The firm had revenue of C$290.98 million for the quarter. Cineplex had a positive return on equity of 49.30% and a negative net margin of 2.84%. As a group, analysts anticipate that Cineplex will post 1.0754912 EPS for the current fiscal year.

About Cineplex

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.