Cineplex (TSE:CGX) Sets New 1-Year High After Analyst Upgrade

Shares of Cineplex Inc. (TSE:CGX) reached 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 brokerages also recently weighed in on CGX. TD Securities upgraded Cineplex to a “strong-buy” rating in a report on Friday, July 24th. Scotiabank raised 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 report on Wednesday, August 12th. RBC Dominion Securities boosted 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. National Bank Financial upped their price objective on shares of Cineplex from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Royal Bank Of Canada upped their price objective on shares of Cineplex from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$15.08.

Cineplex Trading Down 0.4%

The company has a 50 day moving average of C$12.74 and a 200 day moving average of C$11.53. The firm has a market cap of C$904.72 million, a P/E ratio of -71.80, a PEG 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.

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

About Cineplex

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).