National Bank Financial Weighs in on Cineplex Inc.’s FY2024 Earnings (TSE:CGX)

Cineplex Inc. (TSE:CGX) – Stock analysts at National Bank Financial increased their FY2024 earnings per share estimates for shares of Cineplex in a research note issued on Wednesday, April 10th. National Bank Financial analyst A. Shine now forecasts that the company will earn $0.43 per share for the year, up from their previous estimate of $0.40. The consensus estimate for Cineplex’s current full-year earnings is $0.51 per share.

Cineplex (TSE:CGX) last announced 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.

A number of other brokerages have also weighed in on CGX. Royal Bank of Canada decreased their target price on shares of Cineplex from C$15.00 to C$14.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. BMO Capital Markets upped their price objective on Cineplex from C$11.50 to C$12.50 and gave the stock a “market perform” rating in a research note on Wednesday, March 6th. National Bankshares reduced their price objective on Cineplex from C$13.50 to C$12.50 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Canaccord Genuity Group reduced their price objective on 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, Scotiabank upped their price objective on Cineplex from C$11.00 to C$11.25 and gave the stock an “outperform” rating in a research note on Friday, March 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cineplex currently has a consensus rating of “Moderate Buy” and an average target price of C$12.88.

Cineplex Price Performance

Shares of CGX opened at C$7.54 on Monday. The firm has a market cap of C$480.15 million, a PE ratio of 4.19, a P/E/G ratio of 0.30 and a beta of 2.88. The company has a current ratio of 0.55, a quick ratio of 0.22 and a debt-to-equity ratio of 7,933.30. The firm has a fifty day simple moving average of C$7.72 and a two-hundred day simple moving average of C$8.23. Cineplex has a 1-year low of C$7.14 and a 1-year high of C$10.26.

Insiders Place Their Bets

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

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.