Cineplex (TSE:CGX) Shares Down 6.5% – Here’s What Happened

Cineplex Inc. (TSE:CGX) fell 6.5% on Monday . The company traded as low as C$10.79 and last traded at C$11.03. 124,441 shares traded hands during trading, a decline of 57% from the average session volume of 286,372 shares. The stock had previously closed at C$11.80.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CGX. Royal Bank Of Canada lowered their price objective on 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. Canaccord Genuity Group upped their price target on Cineplex from C$9.00 to C$10.50 and gave the company a “hold” rating in a research note on Thursday, April 16th. Finally, TD Securities decreased their price target on 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$13.21.

Cineplex Trading Down 8.7%

The company has a fifty day simple moving average of C$10.73 and a two-hundred day simple moving average of C$10.91. The company has a current ratio of 0.52, a quick ratio of 0.22 and a debt-to-equity ratio of -2,256.39. The company has a market cap of C$683.53 million, a PE ratio of -18.57, a P/E/G ratio of 0.30 and a beta of 0.11.

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