National Bank Financial Comments on Cineplex Inc’s FY2017 Earnings (CGX)
Cineplex Inc (TSE:CGX) – Equities research analysts at National Bank Financial cut their FY2017 earnings per share estimates for shares of Cineplex in a research report issued to clients and investors on Tuesday. National Bank Financial analyst A. Shine now anticipates that the company will post earnings of $1.17 per share for the year, down from their previous forecast of $1.29. National Bank Financial has a “Sector Perform” rating and a $42.00 price objective on the stock. National Bank Financial also issued estimates for Cineplex’s FY2018 earnings at $1.18 EPS.
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Other research analysts have also issued research reports about the company. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a C$58.00 price objective on shares of Cineplex in a report on Tuesday, June 27th. CIBC dropped their price objective on Cineplex from C$55.00 to C$50.00 in a report on Thursday, August 3rd. Canaccord Genuity dropped their price objective on Cineplex from C$59.00 to C$51.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. BMO Capital Markets reaffirmed an “outperform” rating and set a C$58.00 price objective on shares of Cineplex in a report on Monday, June 19th. Finally, TD Securities dropped their price objective on 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 equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$50.50.
Shares of Cineplex (TSE CGX) opened at 42.68 on Thursday. Cineplex has a 52 week low of $41.50 and a 52 week high of $54.81. The stock’s 50 day moving average is $50.33 and its 200-day moving average is $51.37. The firm has a market cap of $3.04 billion and a PE ratio of 36.35.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be issued a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Thursday, July 27th.
Cineplex Company Profile
Cineplex Inc operates motion picture theatre circuits in Canada and internationally. It operates through two segments, Exhibition and Media. The company engages in various businesses, including theatrical exhibition, food services, gaming, alternative programming, Cineplex digital solutions, and the online sale of home entertainment content through CineplexStore.com and on apps embedded in various electronic devices.
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