Cineplex Inc. Expected to Post FY2024 Earnings of $0.43 Per Share (TSE:CGX)

Cineplex Inc. (TSE:CGX) – Equities research analysts at National Bank Financial increased their FY2024 earnings per share estimates for shares of Cineplex in a research note issued on Wednesday, April 10th. National Bank Financial analyst A. Shine now forecasts that the company will post earnings of $0.43 per share for the year, up from their previous forecast of $0.40. The consensus estimate for Cineplex’s current full-year earnings is $0.51 per share.

A number of other equities research analysts also recently weighed in on the company. Scotiabank boosted their price target on Cineplex from C$11.00 to C$11.25 and gave the company an “outperform” rating in a report on Friday, March 8th. National Bankshares lowered their price target on Cineplex from C$13.50 to C$12.50 and set an “outperform” rating for the company in a report on Tuesday, January 16th. BMO Capital Markets boosted their price target on Cineplex from C$11.50 to C$12.50 and gave the company a “market perform” rating in a report on Wednesday, March 6th. Canaccord Genuity Group lowered their price objective on Cineplex from C$13.75 to C$13.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, Royal Bank of Canada lowered their price objective on Cineplex from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.88.

Cineplex Price Performance

Shares of TSE CGX opened at C$7.68 on Monday. Cineplex has a twelve month low of C$7.14 and a twelve month high of C$10.26. The company has a current ratio of 0.55, a quick ratio of 0.22 and a debt-to-equity ratio of 7,933.30. The company has a market capitalization of C$489.06 million, a price-to-earnings ratio of 4.27, a price-to-earnings-growth ratio of 0.30 and a beta of 2.88. The business has a 50 day simple moving average of C$7.71 and a 200-day simple moving average of C$8.22.

Cineplex (TSE:CGX) last posted its quarterly earnings data on Thursday, February 8th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$315.08 million during the quarter, compared to the consensus estimate of C$359.50 million.

Insiders Place Their Bets

In other Cineplex news, Senior Officer Kevin David Watts purchased 3,200 shares of Cineplex stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of C$7.92 per share, for a total transaction of C$25,344.00. In other Cineplex news, Senior Officer Kevin David Watts purchased 3,200 shares of Cineplex stock in a transaction on Wednesday, February 28th. The stock was bought at an average price of C$7.92 per share, for a total transaction of C$25,344.00. Also, Senior Officer Gordon Nelson purchased 10,000 shares of Cineplex stock in a transaction on Wednesday, March 20th. The shares were acquired at an average price of C$7.47 per share, with a total value of C$74,700.00. In the last quarter, insiders acquired 14,500 shares of company stock worth $109,911. 1.52% of the stock is owned by company insiders.

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.