Cineplex (TSE:CGX) Shares Down 2.5%

Cineplex Inc. (TSE:CGX)’s share price fell 2.5% during trading on Thursday . The company traded as low as C$8.66 and last traded at C$8.69. 57,673 shares traded hands 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 equities analysts recently issued reports on the company. Scotiabank lifted their price target on shares of Cineplex from C$11.00 to C$11.25 and gave the company an “outperform” rating in a research report on Friday, March 8th. Canaccord Genuity Group dropped their price target on shares of Cineplex from C$13.75 to C$13.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. Royal Bank of Canada decreased their price objective on Cineplex from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, February 9th. National Bankshares cut their target price on Cineplex from C$13.50 to C$12.50 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Finally, BMO Capital Markets raised their price objective on 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$12.88.

Cineplex Price Performance

The firm has a market cap 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 has a debt-to-equity ratio of 7,933.30, a current ratio of 0.55 and a quick ratio of 0.22. The business’s fifty day moving average is C$7.89 and its 200-day moving average is C$8.18.

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 firm had revenue of C$315.08 million for the quarter, compared to analysts’ expectations of C$359.50 million. On average, research analysts predict that Cineplex Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Cineplex

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

Cineplex Company Profile

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.