Cineplex (TSE:CGX) Shares Down 2.5%

Cineplex Inc. (TSE:CGX) shares traded down 2.5% during trading on Thursday . The stock traded as low as C$8.66 and last traded at C$8.69. 57,673 shares were traded during mid-day trading, a decline of 84% from the average session volume of 354,703 shares. The stock had previously closed at C$8.91.

Analyst Ratings Changes

A number of research firms have recently commented on CGX. National Bankshares cut their price objective on Cineplex from C$13.50 to C$12.50 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Royal Bank of Canada cut their price target on shares of Cineplex from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Scotiabank increased their price objective on shares of Cineplex from C$11.00 to C$11.25 and gave the company an “outperform” rating in a report on Friday, March 8th. Canaccord Genuity Group cut their target price on shares of Cineplex from C$13.75 to C$13.00 and set a “buy” rating for the company in a research note on Friday, February 9th. Finally, BMO Capital Markets raised their price target on shares of Cineplex from C$11.50 to C$12.50 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$12.88.

Cineplex Trading Down 3.3 %

The stock has a market capitalization of C$548.92 million, a PE ratio of 4.66, a P/E/G ratio of 0.30 and a beta of 2.84. The company’s 50 day moving average price is C$7.89 and its two-hundred day moving average price is C$8.18. The company has a debt-to-equity ratio of 7,933.30, a current ratio of 0.55 and a quick ratio of 0.22.

Cineplex (TSE:CGX) last released its earnings results on Thursday, February 8th. The company reported C($0.19) earnings per share for the quarter. The business had revenue of C$315.08 million for the quarter, compared to analyst estimates of C$359.50 million. As a group, analysts expect that Cineplex Inc. will post 0.55 earnings per share for the current year.

Insider Activity at Cineplex

In related news, Senior Officer Kevin David Watts acquired 3,200 shares of the stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of C$7.92 per share, with a total value of C$25,344.00. In other news, Senior Officer Gordon Nelson purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was acquired at an average price of C$7.47 per share, for a total transaction of C$74,700.00. Also, Senior Officer Kevin David Watts purchased 3,200 shares of Cineplex stock in a transaction dated Wednesday, February 28th. The shares were purchased at an average cost of C$7.92 per share, for a total transaction of C$25,344.00. Over the last 90 days, insiders purchased 14,500 shares of company stock valued at $109,911. 1.52% of the stock is currently owned by insiders.

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.