Cineplex’s (CGX) “Outperform” Rating Reaffirmed at Scotiabank
Several other equities analysts have also issued reports on the company. CIBC dropped their price objective on Cineplex from C$55.00 to C$50.00 in a report on Thursday, August 3rd. Raymond James Financial, Inc. reiterated an outperform rating and set a C$58.00 target price on shares of Cineplex in a research note on Tuesday, June 27th. Canaccord Genuity decreased their target price on shares of Cineplex from C$59.00 to C$51.00 and set a buy rating for the company in a research note on Thursday, August 3rd. BMO Capital Markets reiterated an outperform rating and set a C$58.00 target price on shares of Cineplex in a research note on Monday, June 19th. Finally, TD Securities reduced their price objective on shares of Cineplex from C$64.00 to C$52.00 and set a buy rating for the company in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of C$48.38.
The firm 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 dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 4.16%.
In other news, insider Daniel F. Mcgrath acquired 10,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of C$38.59 per share, for a total transaction of C$385,900.00.
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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