Cineplex Inc. (TSE:CGX – Get Free Report)’s stock price was down 3.3% during trading on Tuesday . The stock traded as low as C$10.49 and last traded at C$10.59. Approximately 88,718 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 366,945 shares. The stock had previously closed at C$10.95.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on CGX shares. Royal Bank of Canada decreased their price objective on Cineplex from C$14.00 to C$13.00 in a report on Wednesday, July 24th. Scotiabank raised their price target on Cineplex from C$10.00 to C$12.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Canaccord Genuity Group reduced their price objective on shares of Cineplex from C$12.50 to C$12.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. TD Securities raised their target price on shares of Cineplex from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Desjardins upped their price target on shares of Cineplex from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$18.71.
Read Our Latest Research Report on CGX
Cineplex Price Performance
Cineplex (TSE:CGX – Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported C($0.33) EPS for the quarter. The firm had revenue of C$277.34 million during the quarter, compared to the consensus estimate of C$283.90 million. As a group, analysts forecast that Cineplex Inc. will post 1.0993852 EPS for the current year.
About Cineplex
Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.
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