Cineplex Inc (TSE:CGX) Receives C$31.07 Consensus PT from Brokerages

Cineplex Inc (TSE:CGX) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$31.07.

Several research firms recently weighed in on CGX. CIBC lifted their price target on shares of TransAlta from C$9.00 to C$10.00 in a report on Friday, May 3rd. National Bank Financial cut shares of Stelco from an “outperform overweight” rating to a “sector perform overweight” rating in a report on Thursday, June 6th. Raymond James cut shares of Allergan from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. TD Securities cut their price target on shares of Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a “reduce” rating on the stock in a report on Monday, May 13th. Finally, Echelon Wealth Partners reiterated a “buy” rating on shares of Timbercreek Financial in a report on Tuesday, April 30th.

TSE:CGX traded up C$0.02 during trading hours on Tuesday, hitting C$23.52. The company had a trading volume of 153,400 shares, compared to its average volume of 230,714. The firm has a market cap of $1.49 billion and a P/E ratio of 27.35. The company’s 50-day simple moving average is C$23.36. Cineplex has a 52 week low of C$22.34 and a 52 week high of C$36.65. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 318.99.

Cineplex (TSE:CGX) last released its quarterly earnings results on Thursday, May 9th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.04) by C($0.08). The company had revenue of C$364.94 million for the quarter, compared to analyst estimates of C$363.75 million. On average, sell-side analysts forecast that Cineplex will post 0.91 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.15 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.65%. The ex-dividend date is Thursday, June 27th. This is a boost from Cineplex’s previous monthly dividend of $0.15. Cineplex’s payout ratio is 201.74%.

About Cineplex

Cineplex Inc, through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure. The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatre and digital commerce.

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Analyst Recommendations for Cineplex (TSE:CGX)

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