Brokers Issue Forecasts for Cineplex Inc’s FY2017 Earnings (CGX)
Cineplex Inc (TSE:CGX) – National Bank Financial reduced their FY2017 earnings per share estimates for Cineplex in a note issued to investors on Wednesday. National Bank Financial analyst A. Shine now expects that the company will earn $1.16 per share for the year, down from their previous estimate of $1.17. National Bank Financial currently has a “Sector Perform” rating and a $42.00 target price on the stock.
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Several other research analysts have also commented on the stock. Raymond James Financial, Inc. lowered their price objective on shares of Cineplex from C$52.00 to C$46.00 and set an “outperform” rating for the company in a research note on Tuesday, September 26th. Scotiabank reissued an “outperform” rating and issued a C$46.00 price objective on shares of Cineplex in a research note on Wednesday, September 20th. BMO Capital Markets reduced their target price on shares of Cineplex from C$48.00 to C$44.00 and set an “outperform” rating on the stock in a report on Wednesday, September 6th. Royal Bank Of Canada raised shares of Cineplex from a “sector perform” rating to an “outperform” rating and reduced their target price for the company from C$54.00 to C$50.00 in a report on Thursday, August 3rd. Finally, TD Securities reduced their target price on shares of Cineplex from C$64.00 to C$52.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of C$47.63.
Shares of Cineplex (TSE CGX) opened at 39.04 on Friday. The stock has a 50 day moving average of $39.91 and a 200 day moving average of $48.74. The company has a market cap of $2.48 billion and a price-to-earnings ratio of 33.08. Cineplex has a 12-month low of $34.43 and a 12-month high of $54.81.
In other news, insider Daniel F. Mcgrath bought 10,000 shares of Cineplex stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of C$38.59 per share, with a total value of C$385,900.00.
The company also recently announced a monthly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a yield of 4.30%.
Cineplex Company Profile
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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