Research Analysts Set Expectations for Cineplex Inc’s FY2019 Earnings (CGX)

Cineplex Inc (TSE:CGX) – Equities researchers at Raymond James cut their FY2019 earnings per share (EPS) estimates for shares of Cineplex in a research note issued to investors on Monday, March 25th, Zacks Investment Research reports. Raymond James analyst K. Tyghe now forecasts that the company will post earnings of $1.23 per share for the year, down from their previous forecast of $1.49. Raymond James currently has a “Outperform” rating and a $31.00 target price on the stock.

Cineplex (TSE:CGX) last issued its quarterly earnings data on Friday, February 15th. The company reported C$0.43 EPS for the quarter, missing analysts’ consensus estimates of C$0.51 by C($0.08). The firm had revenue of C$428.18 million for the quarter, compared to analyst estimates of C$425.40 million.

A number of other research analysts have also issued reports on CGX. TD Securities decreased their target price on Cineplex from C$36.00 to C$35.00 in a research report on Tuesday, February 19th. National Bank Financial decreased their target price on Cineplex from C$28.00 to C$27.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 3rd. CIBC decreased their target price on Cineplex from C$33.00 to C$30.00 in a research report on Tuesday, February 19th. Finally, BMO Capital Markets decreased their target price on Cineplex from C$32.00 to C$30.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Cineplex presently has a consensus rating of “Buy” and an average price target of C$31.57.

Shares of TSE CGX traded up C$0.25 during midday trading on Thursday, reaching C$24.35. 211,000 shares of the stock were exchanged, compared to its average volume of 238,148. Cineplex has a twelve month low of C$22.88 and a twelve month high of C$36.65. The stock has a market capitalization of $1.54 billion and a price-to-earnings ratio of 20.01. The company has a debt-to-equity ratio of 88.76, a current ratio of 0.56 and a quick ratio of 0.46.

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, April 30th will be issued a $0.145 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.74 dividend on an annualized basis and a yield of 7.15%. Cineplex’s payout ratio is currently 141.33%.

Cineplex Company Profile

Cineplex Inc, through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure. The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatre and digital commerce.

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Earnings History and Estimates for Cineplex (TSE:CGX)

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