The Investment Reporter, in its April 17, 2015, issue, says hold Cineplex Inc., recently $49.29. The Reporter said buy on Oct. 4, 2013, at $38, and again on July 11, 2014, at $41.60. Assuming an investment of $1,000 for each of the two buys, the $2,000 position would now be worth $2,464. Canada's largest movie theatre chain earned $76.3-million, or $1.20 a share, in 2014, down from $83.6-million, or $1.32 a share, a year ago. In 2015, Cineplex is expected to earn $1.81 a share; this gives an excessive price-to-earnings ratio of 27.1. Based on the 2016 earnings estimate of $2.16 a share, the stock still trades at a high P/E ratio of 22.8. The company faces a number of risks. First is a scarcity of blockbuster movies, such as in 2014. A second risk is the rise of competitors, such as subscription video-on-demand services, including Netflix and shomi. Nonetheless, the newsletter holds a high opinion of Cineplex and now rates the stock "conservative," up a notch from its former rating of "average." Furthermore, the company pays a $1.50 annual dividend, which is an attractive 3-per-cent yield. Cineplex is a hold until its price becomes more reasonable.