Canaccord Genuity Group Forecasts Strong Price Appreciation for Cineplex (TSE:CGX) Stock

Cineplex (TSE:CGX) had its price objective upped by analysts at Canaccord Genuity Group from C$10.50 to C$11.50 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 6.19% from the company’s current price.

Several other brokerages have also issued reports on CGX. National Bank Financial reduced their price objective on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a report on Tuesday. Royal Bank Of Canada reduced their price objective on shares of Cineplex from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Finally, TD Securities reduced their price objective on shares of Cineplex from C$17.00 to C$16.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$13.46.

Cineplex Trading Up 0.6%

Shares of TSE CGX traded up C$0.06 during trading on Tuesday, hitting C$10.83. 333,107 shares of the company were exchanged, compared to its average volume of 299,123. Cineplex has a 12-month low of C$9.15 and a 12-month high of C$12.72. The company has a debt-to-equity ratio of -2,256.39, a quick ratio of 0.22 and a current ratio of 0.52. The company has a fifty day moving average price of C$10.77 and a 200-day moving average price of C$10.90. The firm has a market capitalization of C$687.34 million, a PE ratio of -18.67, a P/E/G ratio of 0.30 and a beta of 0.11.

Cineplex (TSE:CGX) last posted its quarterly earnings results on Monday, May 11th. The company reported C($0.36) EPS for the quarter. Cineplex had a positive return on equity of 49.30% and a negative net margin of 2.84%.The company had revenue of C$290.98 million for the quarter. As a group, equities research analysts expect that Cineplex will post 1.0754912 EPS for the current year.

About Cineplex

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.