TD Securities Lowers Cineplex (CGX) Price Target to C$40.00

Cineplex (TSE:CGX) had its price target lowered by TD Securities from C$47.00 to C$40.00 in a research note issued to investors on Wednesday. TD Securities currently has a buy rating on the stock.

CGX has been the subject of several other research reports. Scotiabank reissued an outperform rating and set a C$46.00 price target on shares of Cineplex in a research report on Wednesday, September 20th. Raymond James Financial dropped their price target on shares of Cineplex from C$52.00 to C$46.00 and set an outperform rating for the company in a research report on Tuesday, September 26th. Finally, National Bank Financial dropped their price target on shares of Cineplex from C$42.00 to C$40.50 and set a sector perform rating for the company in a research report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of C$45.81.

Shares of Cineplex (CGX) opened at C$33.83 on Wednesday. The firm has a market cap of $2,140.00, a price-to-earnings ratio of 32.84 and a beta of 0.41. Cineplex has a 12-month low of C$33.07 and a 12-month high of C$54.81.

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.68 annualized dividend and a dividend yield of 4.97%. Cineplex’s dividend payout ratio is 159.71%.

In related news, insider Gordon Nelson bought 4,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was purchased at an average cost of C$36.00 per share, with a total value of C$144,000.00. Also, insider Lorraine Marie Legault bought 1,625 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was bought at an average cost of C$39.82 per share, with a total value of C$64,707.50. Over the last ninety days, insiders bought 10,625 shares of company stock valued at $394,058.

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Cineplex Company Profile

Cineplex Inc (Cineplex) is a Canada-based film exhibition company. The Company’s segments include Exhibition and Media. The Exhibition segment includes all direct and ancillary revenues from theatre attendance, including box office and food service revenues. The Exhibition segment also includes amusement gaming and leisure, theatre rentals and digital commerce rental and sales.

Analyst Recommendations for Cineplex (TSE:CGX)

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