Scotiabank Boosts Cineplex (TSE:CGX) Price Target to C$12.00

Cineplex (TSE:CGX) had its price target lifted by Scotiabank from C$10.00 to C$12.00 in a research report released on Monday, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently commented on the stock. Canaccord Genuity Group reduced their target price 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. Desjardins increased their target price on shares of Cineplex from C$52.00 to C$53.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reduced their target price on shares of Cineplex from C$14.00 to C$13.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of C$18.43.

Cineplex Stock Up 1.6 %

Shares of CGX stock opened at C$10.44 on Monday. The firm has a fifty day moving average of C$8.47 and a 200-day moving average of C$8.15. The company has a quick ratio of 0.22, a current ratio of 0.41 and a debt-to-equity ratio of 30,533.69. Cineplex has a 12-month low of C$7.10 and a 12-month high of C$10.49. The company has a market capitalization of C$664.82 million, a price-to-earnings ratio of -9.32, a P/E/G ratio of 0.30 and a beta of 2.74.

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.