Brokers Issue Forecasts for Cineplex FY2024 Earnings

Cineplex Inc. (TSE:CGX) – Stock analysts at National Bank Financial dropped their FY2024 earnings estimates for shares of Cineplex in a note issued to investors on Wednesday, November 6th. National Bank Financial analyst A. Shine now anticipates that the company will post earnings of ($0.35) per share 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.

Cineplex (TSE:CGX) last posted its quarterly earnings results on Friday, August 9th. The company reported C($0.33) earnings per share (EPS) for the quarter. The business had revenue of C$277.34 million for the quarter, compared to analysts’ expectations of C$283.90 million.

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

Cineplex Stock Performance

CGX opened at C$10.38 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.36 and a debt-to-equity ratio of 30,533.69. The firm has a market cap of C$661.00 million, a PE ratio of -9.27, a P/E/G ratio of 0.30 and a beta of 2.74. The business has a fifty day simple moving average of C$10.56 and a 200-day simple moving average of C$9.29. Cineplex has a fifty-two week low of C$7.10 and a fifty-two week high of C$11.16.

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.