Cineplex (TSE:CGX) Reaches New 1-Year High on Analyst Upgrade

Cineplex Inc. (TSE:CGX) shares hit a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from C$12.25 to C$14.00. Canaccord Genuity Group currently has a hold rating on the stock. Cineplex traded as high as C$14.51 and last traded at C$14.42, with a volume of 113,664 shares trading hands. The stock had previously closed at C$14.25.

A number of other analysts have also weighed in on CGX. TD Securities upgraded Cineplex to a “strong-buy” rating in a research note on Friday, July 24th. Scotiabank upped their price target on shares of Cineplex from C$12.00 to C$13.50 and gave the stock a “sector outperform” rating in a research report on Wednesday, August 12th. National Bank Financial increased their price objective on shares of Cineplex from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a report on Monday. RBC Dominion Securities raised their price objective on shares of Cineplex from C$15.00 to C$16.00 and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Finally, Royal Bank Of Canada upped their target price on shares of Cineplex from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$15.08.

Cineplex Trading Down 0.4%

The company has a market capitalization of C$904.72 million, a price-to-earnings ratio of -71.80, a P/E/G ratio of 0.30 and a beta of 0.15. The company has a debt-to-equity ratio of -1,865.57, a quick ratio of 0.22 and a current ratio of 0.44. The business’s 50-day simple moving average is C$12.74 and its 200-day simple moving average is C$11.53.

Cineplex (TSE:CGX) last issued its quarterly earnings results on Friday, November 6th. The company reported C$0.34 EPS for the quarter. The company had revenue of C$440.20 million during the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. On average, research analysts expect that Cineplex Inc. will post 1.08 earnings per share for the current fiscal year.

Cineplex Company Profile

Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 169 movie theatres and location-based entertainment venues. In addition to being Canada’s largest and most innovative film exhibitor, the company operates Canada’s favourite destination for ‘Eats & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion).