Cineplex Inc (CGX) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Cineplex Inc (TSE:CGX) have been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$40.56.
Several equities research analysts recently issued reports on the stock. National Bank Financial decreased their target price on shares of Cineplex from C$42.00 to C$40.50 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. TD Securities decreased their target price on shares of Cineplex from C$47.00 to C$40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 10th. CIBC decreased their target price on shares of Cineplex from C$42.00 to C$32.00 in a research report on Friday, February 16th. BMO Capital Markets cut shares of Cineplex from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$44.00 to C$37.00 in a research report on Monday, January 15th. Finally, Scotiabank decreased their target price on shares of Cineplex from C$45.00 to C$39.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th.
In other Cineplex news, insider Lorraine Marie Legault purchased 1,625 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average price of C$39.82 per share, for a total transaction of C$64,707.50. Also, insider George Sautter purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of C$33.05 per share, for a total transaction of C$66,100.00.
The firm also recently declared a monthly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 29th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.68 annualized dividend and a yield of 5.11%. Cineplex’s payout ratio is 149.55%.
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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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