Cineplex Inc (CGX) Given Average Recommendation of “Buy” by Analysts

Cineplex Inc (TSE:CGX) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$35.06.

A number of brokerages have weighed in on CGX. National Bank Financial raised their target price on shares of Cineplex from C$35.00 to C$36.00 and gave the company an “outperform” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on shares of Cineplex from C$36.00 to C$37.00 and gave the company an “outperform” rating in a research note on Monday, August 13th. Raymond James decreased their target price on shares of Cineplex from C$39.00 to C$36.00 and set an “outperform” rating for the company in a research note on Monday, August 13th. Canaccord Genuity decreased their target price on shares of Cineplex from C$33.00 to C$32.00 in a research note on Monday, August 13th. Finally, CIBC raised their target price on shares of Cineplex from C$32.00 to C$32.50 in a research note on Monday, August 13th.

Shares of TSE CGX traded up C$0.11 on Friday, reaching C$36.29. 96,001 shares of the company’s stock traded hands, compared to its average volume of 280,855. Cineplex has a 12 month low of C$27.56 and a 12 month high of C$39.99.

Cineplex (TSE:CGX) last announced its earnings results on Friday, August 10th. The company reported C$0.38 earnings per share for the quarter. Cineplex had a net margin of 6.75% and a return on equity of 16.24%. The business had revenue of C$409.05 million during the quarter, compared to the consensus estimate of C$414.80 million.

The company also recently declared a monthly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be issued a dividend of $0.145 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Thursday, September 27th.

About Cineplex

Cineplex Inc, through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure. The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatre and digital commerce.

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Analyst Recommendations for Cineplex (TSE:CGX)

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