Canaccord Genuity Group Issues Pessimistic Forecast for Cineplex (TSE:CGX) Stock Price

Cineplex (TSE:CGX) had its price target cut by investment analysts at Canaccord Genuity Group from C$14.00 to C$11.00 in a report issued on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s target price indicates a potential upside of 27.31% from the stock’s previous close.

Separately, National Bankshares decreased their price target on shares of Cineplex from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cineplex currently has an average rating of “Buy” and a consensus target price of C$18.64.

Cineplex Stock Performance

Shares of CGX traded down C$0.71 during trading hours on Thursday, hitting C$8.64. The stock had a trading volume of 320,654 shares, compared to its average volume of 284,690. The company has a debt-to-equity ratio of -4,623.78, a current ratio of 0.43 and a quick ratio of 0.22. The firm has a market capitalization of C$545.63 million, a PE ratio of -14.54, a PEG ratio of 0.30 and a beta of 2.74. The stock has a fifty day moving average price of C$10.20 and a 200 day moving average price of C$10.82. Cineplex has a 12 month low of C$7.10 and a 12 month high of C$13.09.

About Cineplex

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.