National Bank Financial Cuts Earnings Estimates for Cineplex

Cineplex Inc. (TSE:CGX) – Equities researchers at National Bank Financial dropped their FY2024 earnings estimates for Cineplex in a research note issued on Wednesday, November 6th. National Bank Financial analyst A. Shine now expects that the company will post earnings per share of ($0.35) for the year, down from their prior forecast of $0.42. The consensus estimate for Cineplex’s current full-year earnings is $1.08 per share.

Several other equities research analysts have also recently commented on the company. TD Securities boosted their target price on Cineplex from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Canaccord Genuity Group boosted their price objective on shares of Cineplex from C$11.50 to C$12.00 in a research report on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of Cineplex from C$14.00 to C$13.00 in a research report on Wednesday, July 24th. Desjardins increased their price objective on shares of Cineplex from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Scotiabank lifted their target price on Cineplex from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Cineplex has an average rating of “Moderate Buy” and an average target price of C$18.71.

Cineplex Stock Performance

CGX opened at C$10.07 on Monday. The company has a market capitalization of C$641.26 million, a price-to-earnings ratio of -8.99, a P/E/G ratio of 0.30 and a beta of 2.74. The business’s 50-day moving average price is C$10.53 and its two-hundred day moving average price is C$9.32. Cineplex has a 1 year low of C$7.10 and a 1 year high of C$11.16. The company has a debt-to-equity ratio of 30,533.69, a current ratio of 0.36 and a quick ratio of 0.22.

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.