Cineplex Inc (CGX) Receives C$48.38 Average Price Target from Analysts
Shares of Cineplex Inc (TSE:CGX) have received a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$48.38.
Several research firms recently commented on CGX. TD Securities cut their target price on shares of Cineplex from C$64.00 to C$52.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. BMO Capital Markets cut their target price on shares of Cineplex from C$48.00 to C$44.00 and set an “outperform” rating for the company in a research note on Wednesday, September 6th. National Bank Financial cut their target price on shares of Cineplex from C$46.00 to C$42.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 9th. Canaccord Genuity cut their target price on shares of Cineplex from C$59.00 to C$51.00 and set a “buy” rating for the company in a research note on Thursday, August 3rd. Finally, Scotiabank reduced their price target on shares of Cineplex from C$49.00 to C$46.00 and set an “outperform” rating for the company in a research report on Wednesday, August 23rd.
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In other news, insider Daniel F. Mcgrath purchased 10,000 shares of Cineplex stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average price of C$38.59 per share, for a total transaction of C$385,900.00.
Shares of Cineplex (CGX) traded up 0.76% on Friday, hitting $38.58. 151,646 shares of the stock were exchanged. The company has a market cap of $2.45 billion and a P/E ratio of 32.69. The firm’s 50-day moving average is $41.78 and its 200-day moving average is $49.24. Cineplex has a one year low of $34.43 and a one year high of $54.81.
The company also recently declared a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.68 annualized dividend and a dividend yield of 4.35%.
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.
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