Cineplex (CGX) Given New C$38.00 Price Target at Royal Bank of Canada

Cineplex (TSE:CGX) had its price target upped by Royal Bank of Canada from C$37.00 to C$38.00 in a report released on Thursday morning. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently commented on CGX. BMO Capital Markets reduced their price objective on shares of Cineplex from C$37.00 to C$32.00 in a research note on Thursday. Scotiabank reduced their price objective on shares of Cineplex from C$45.00 to C$39.00 and set an outperform rating for the company in a research note on Friday, February 16th. CIBC reduced their price objective on shares of Cineplex from C$42.00 to C$32.00 in a research note on Friday, February 16th. TD Securities cut their target price on shares of Cineplex from C$47.00 to C$40.00 and set a buy rating for the company in a research note on Wednesday, January 10th. Finally, Raymond James cut their target price on shares of Cineplex from C$46.00 to C$40.00 and set an outperform rating for the company in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of C$37.94.

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Cineplex stock opened at C$28.62 on Thursday. Cineplex has a one year low of C$27.56 and a one year high of C$53.72.

Cineplex (TSE:CGX) last posted its quarterly earnings data on Thursday, February 22nd. The company reported C$0.46 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.51 by C($0.05). Cineplex had a return on equity of 16.24% and a net margin of 6.75%. The business had revenue of C$426.29 million for the quarter, compared to analyst estimates of C$435.60 million.

The company also recently announced a monthly dividend, which will be paid on Thursday, May 31st. Investors of record on Monday, April 30th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $1.68 annualized dividend and a yield of 5.87%.

In other news, insider Gordon Nelson bought 6,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average cost of C$31.89 per share, for a total transaction of C$191,340.00. Also, insider George Sautter bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of C$33.05 per share, with a total value of C$66,100.00. Insiders purchased a total of 10,000 shares of company stock valued at $314,300 over the last quarter.

Cineplex Company Profile

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.

Analyst Recommendations for Cineplex (TSE:CGX)