Cineplex Inc (CGX) Upgraded by Royal Bank Of Canada to Outperform
Royal Bank Of Canada upgraded shares of Cineplex Inc (TSE:CGX) from a sector perform rating to an outperform rating in a research note issued to investors on Thursday. They currently have C$50.00 price target on the stock, down from their previous price target of C$54.00.
Other equities analysts have also issued research reports about the stock. Raymond James Financial, Inc. reiterated an outperform rating and issued a C$58.00 price target on shares of Cineplex in a report on Tuesday, June 27th. CIBC decreased their price target on shares of Cineplex from C$55.00 to C$50.00 in a report on Thursday. Canaccord Genuity decreased their price target on shares of Cineplex from C$59.00 to C$51.00 and set a buy rating on the stock in a report on Thursday. TD Securities decreased their price target on shares of Cineplex from C$64.00 to C$52.00 and set a buy rating on the stock in a report on Thursday. Finally, BMO Capital Markets reiterated an outperform rating and issued a C$58.00 price target on shares of Cineplex in a report on Monday, June 19th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of C$51.00.
Shares of Cineplex (TSE:CGX) opened at 43.97 on Thursday. The firm has a 50-day moving average price of $51.55 and a 200-day moving average price of $51.68. The stock has a market cap of $3.14 billion and a price-to-earnings ratio of 37.45. Cineplex has a 12 month low of $43.75 and a 12 month high of $54.81.
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The firm also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, July 31st will be paid a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Thursday, July 27th.
Cineplex Inc operates motion picture theatre circuits in Canada and internationally. It operates through two segments, Exhibition and Media. The company engages in various businesses, including theatrical exhibition, food services, gaming, alternative programming, Cineplex digital solutions, and the online sale of home entertainment content through CineplexStore.com and on apps embedded in various electronic devices.
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