Cineplex (TSE:CGX) Given New C$53.00 Price Target at Desjardins

Cineplex (TSE:CGX) had its price objective lifted by Desjardins from C$52.00 to C$53.00 in a report released on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on CGX. Canaccord Genuity Group reduced their target price on shares of Cineplex from C$12.50 to C$12.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada reduced their target price on shares of Cineplex from C$14.00 to C$13.00 in a research note on Wednesday, July 24th. Finally, Scotiabank reduced their target price on shares of Cineplex from C$11.00 to C$10.00 and set a sector perform rating for the company in a research note on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of C$18.14.

Cineplex Stock Performance

Shares of CGX stock opened at C$8.91 on Thursday. The firm has a market cap of C$567.39 million, a price-to-earnings ratio of 6.70, a P/E/G ratio of 0.30 and a beta of 2.79. The company has a debt-to-equity ratio of 30,533.69, a quick ratio of 0.22 and a current ratio of 0.41. Cineplex has a 52 week low of C$7.10 and a 52 week high of C$9.76. The firm’s 50-day simple moving average is C$8.13 and its two-hundred day simple moving average is C$8.06.

Cineplex (TSE:CGX) last announced its quarterly earnings data on Thursday, May 9th. The company reported C($0.56) EPS for the quarter, missing the consensus estimate of C($0.15) by C($0.41). The business had revenue of C$294.76 million for the quarter, compared to analyst estimates of C$292.60 million. As a group, equities analysts forecast that Cineplex will post 0.4906231 earnings per share for the current year.

About Cineplex

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.