TD Securities Has Lowered Expectations for Cineplex (TSE:CGX) Stock Price

Cineplex (TSE:CGX) had its target price dropped by equities researchers at TD Securities from C$17.00 to C$16.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 53.26% from the company’s previous close.

Several other analysts have also recently issued reports on CGX. BMO Capital Markets increased their target price on shares of Cineplex from C$13.00 to C$14.00 in a research note on Friday, October 17th. National Bankshares lowered their price objective on Cineplex from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 30th. Royal Bank Of Canada set a C$14.00 price objective on Cineplex and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Canaccord Genuity Group decreased their target price on Cineplex from C$13.00 to C$11.50 in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$13.54.

Cineplex Stock Performance

TSE:CGX opened at C$10.44 on Friday. The business’s fifty day moving average is C$11.24 and its 200 day moving average is C$11.46. The firm has a market cap of C$662.31 million, a price-to-earnings ratio of -19.33, a PEG ratio of 0.30 and a beta of 0.04. The company has a debt-to-equity ratio of -4,623.78, a quick ratio of 0.22 and a current ratio of 0.43. Cineplex has a 52-week low of C$8.40 and a 52-week high of C$12.72.

Cineplex (TSE:CGX) last posted its earnings results on Thursday, November 6th. The company reported C$0.02 earnings per share for the quarter. Cineplex had a positive return on equity of 172.20% and a negative net margin of 2.83%.The business had revenue of C$348.94 million during the quarter. Research analysts predict 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.