Cineplex Inc to Post FY2017 Earnings of $1.20 Per Share, National Bank Financial Forecasts (CGX)
Cineplex Inc (TSE:CGX) – Equities researchers at National Bank Financial boosted their FY2017 EPS estimates for shares of Cineplex in a research report issued to clients and investors on Tuesday. National Bank Financial analyst A. Shine now anticipates that the company will earn $1.20 per share for the year, up from their prior estimate of $1.16. National Bank Financial has a “Sector Perform” rating and a $40.50 price objective on the stock.
A number of other research firms have also commented on CGX. Scotiabank dropped their price target on Cineplex from C$60.00 to C$57.00 and set an “outperform” rating on the stock in a research report on Thursday, July 20th. CIBC dropped their price target on Cineplex from C$55.00 to C$50.00 in a research report on Thursday, August 3rd. TD Securities dropped their price target on Cineplex from C$64.00 to C$52.00 and set a “buy” rating on the stock in a research report on Thursday, August 3rd. Raymond James Financial, Inc. dropped their price target on Cineplex from C$58.00 to C$52.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada raised Cineplex from a “sector perform” rating to an “outperform” rating and dropped their price target for the stock from C$54.00 to C$50.00 in a research report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Cineplex presently has an average rating of “Buy” and a consensus price target of C$46.81.
Shares of Cineplex (CGX) opened at C$36.50 on Friday. Cineplex has a 1 year low of C$34.43 and a 1 year high of C$54.81.
The company also recently announced a monthly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were given a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Thursday, September 28th. Cineplex’s dividend payout ratio is presently 159.71%.
In other news, insider Daniel F. Mcgrath bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of C$38.59 per share, with a total value of C$385,900.00. Also, insider Gordon Nelson bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of C$36.00 per share, for a total transaction of C$144,000.00.
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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