National Bank Financial Comments on Cineplex Inc’s FY2019 Earnings (TSE:CGX)

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Cineplex Inc (TSE:CGX) – Research analysts at National Bank Financial lifted their FY2019 earnings per share (EPS) estimates for Cineplex in a report released on Tuesday, July 9th. National Bank Financial analyst A. Shine now forecasts that the company will earn $0.79 per share for the year, up from their previous estimate of $0.60. National Bank Financial has a “Outperform” rating and a $28.00 price target on the stock. National Bank Financial also issued estimates for Cineplex’s FY2020 earnings at $1.12 EPS.

CGX has been the topic of several other research reports. TD Securities dropped their target price on Ritchie Bros. Auctioneers from $30.00 to $28.00 and set a “reduce” rating on the stock in a report on Monday, May 13th. Echelon Wealth Partners restated a “buy” rating on shares of Timbercreek Financial in a research note on Tuesday, April 30th. CIBC upped their price objective on TransAlta from C$9.00 to C$10.00 in a research note on Friday, May 3rd. Finally, Raymond James lowered Allergan from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cineplex has a consensus rating of “Buy” and a consensus target price of C$31.07.

CGX stock opened at C$23.25 on Friday. Cineplex has a fifty-two week low of C$22.34 and a fifty-two week high of C$36.65. The firm has a market capitalization of $1.47 billion and a PE ratio of 27.03. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 318.99. The stock’s 50-day moving average price is C$23.54.

Cineplex (TSE:CGX) last posted its quarterly earnings data on Thursday, May 9th. The company reported C($0.12) earnings per share for the quarter, missing the consensus estimate of C($0.04) by C($0.08). The firm had revenue of C$364.94 million during the quarter, compared to the consensus estimate of C$363.75 million.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.15 dividend. This is a positive change from Cineplex’s previous monthly dividend of $0.15. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.80 annualized dividend and a yield of 7.74%. Cineplex’s dividend payout ratio is currently 201.74%.

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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