Canaccord Genuity Group Predicts Significant Gains for Cineplex (TSE:CGX) Stock

Cineplex (TSE:CGX) has seen an increase in its target price from C$12.50 to C$14.00, according to analysts at Canaccord Genuity Group. This update was shared in a research note released on Wednesday, where the brokerage also reaffirmed a "buy" rating for the stock. The newly set target price suggests that there is a potential upside of 22.70% from the current price level of the company.

In a separate update, Canaccord Genuity Group had previously raised its price target for Cineplex from C$11.50 to C$12.00 just days earlier on October 17th. Currently, among various analysts, one has given the stock a hold rating while five others have recommended a buy. Data from MarketBeat.com shows that the consensus rating for Cineplex stock is categorized as "Moderate Buy" with an average price target estimated at C$18.93.

Cineplex Stock Performance

On Wednesday, Cineplex shares increased by 6.9%, reaching a price of C$11.41. During this trading session, the total volume of shares traded was 964,984, which is significantly higher than its average volume of 261,808. Cineplex's fifty-day moving average stands at C$11.80, while its 200-day moving average is at C$10.83. The company has a very high debt-to-equity ratio of 30,533.69, with a quick ratio of 0.22 and a current ratio of 0.36. Over the past year, the stock has fluctuated between a low of C$7.10 and a high of C$13.09. The market capitalization of Cineplex is approximately C$726.59 million, with a price-to-earnings ratio of -10.19 and a P/E/G ratio of 0.30.

Insider Trading Activities

In insider trading news, Director Ellis Jacob sold 29,874 shares of Cineplex on November 20th at an average price of C$10.02, amounting to a total transaction value of C$299,337.48. In the last quarter, insiders collectively sold 33,615 shares valued at $340,197. Currently, insiders hold about 1.85% of the company's shares.

Overview of Cineplex

Cineplex is a diversified media company primarily known for its chain of movie theaters. It operates through four key segments: film entertainment and content, media, amusement and leisure, and location-based entertainment. The film entertainment segment generates revenue primarily from ticket sales and theater attendance.

Cineplex, Stock, Analysts