Cineplex Inc (CGX) Given Average Rating of “Buy” by Brokerages

Shares of Cineplex Inc (TSE:CGX) have received a consensus rating of “Buy” from the eight research firms that are presently covering the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$56.25.

CGX has been the subject of several recent analyst reports. CIBC upped their target price on shares of Cineplex from C$52.00 to C$54.00 in a research note on Monday, November 28th. Scotiabank reaffirmed a “sector perform” rating and issued a C$52.00 target price on shares of Cineplex in a research note on Wednesday, November 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a C$53.00 target price (down previously from C$54.00) on shares of Cineplex in a research note on Thursday. Canaccord Genuity upped their target price on shares of Cineplex from C$55.00 to C$57.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Raymond James Financial, Inc. set a C$58.00 target price on shares of Cineplex and gave the company an “outperform” rating in a research note on Monday.

Cineplex (TSE:CGX) traded down 0.64% during midday trading on Friday, hitting $51.29. 30,948 shares of the company traded hands. Cineplex has a 12-month low of $48.26 and a 12-month high of $53.41. The stock’s 50-day moving average is $52.14 and its 200-day moving average is $51.00. The firm has a market capitalization of $3.26 billion and a PE ratio of 24.44.

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About Cineplex

Cineplex Inc is a Canada-based entertainment company. The Company operates through two segments: Exhibition and Media. The Exhibition segment offers box office services, food service, gaming services, theatre rentals and digital commerce rental and sales. The Media segment consists of Cineplex Media, which consists of in-theatre advertising, pre-show, showtime, magazine and lobby advertising, and Cineplex Digital Media (CDM), which is associated with the design, installation and operations of digital signage networks.

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