Cineplex (TSE:CGX) Hits New 1-Year High – Here’s What Happened

Cineplex Inc. (TSE:CGX) shares reached a new 52-week high on Friday . The company traded as high as C$12.72 and last traded at C$12.71, with a volume of 256114 shares trading hands. The stock had previously closed at C$12.44.

Wall Street Analysts Forecast Growth

CGX has been the subject of several research analyst reports. National Bank Financial decreased their price target on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Canaccord Genuity Group increased their price objective on Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a report on Tuesday, May 12th. Finally, TD Securities raised Cineplex to a “strong-buy” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cineplex currently has a consensus rating of “Buy” and a consensus price target of C$13.46.

Cineplex Stock Performance

The company has a debt-to-equity ratio of -1,703.50, a current ratio of 0.37 and a quick ratio of 0.22. The firm has a market capitalization of C$803.29 million, a PE ratio of -35.42, a P/E/G ratio of 0.30 and a beta of 0.35. The company’s fifty day simple moving average is C$11.60 and its 200 day simple moving average is C$10.87.

Cineplex (TSE:CGX) last posted its earnings results on Monday, May 11th. The company reported C($0.36) earnings per share for the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%.The business had revenue of C$290.98 million during the quarter. As a group, equities research analysts expect that Cineplex Inc. will post 1.0754912 EPS for the current fiscal year.

Cineplex Company Profile

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.