12:00:16 EST Thu 07 Dec 2023
Enter Symbol
or Name

Cineplex Inc
Symbol CGX
Shares Issued 63,376,721
Close 2023-09-27 C$ 8.87
Recent Sedar Documents

Globe says Shine maintains Cineplex at "outperform"

2023-09-28 08:18 ET - In the News

The Globe and Mail reports in its Thursday edition that National Bank Financial analyst Adam Shine has reaffirmed his "outperform" recommendation for Cineplex. The Globe's David Leeder writes that Mr. Shine gave his share target a $1.50 boost to $14.50. Analysts on average target the shares at $12.88. The Globe says Mr. Shine thinks Cineplex's third quarter results are poised to "significantly" exceed the Street's expectations. Mr. Shine is now projecting quarterly box-office revenue of $192-million, up 54 per cent year-over-year, 8 per cent from the same (pre-COVID) period in 2019 and rising from his previous forecast of $160-million. His total revenue estimate rose to $471-million from $424-million, above the Street's expectation of $420-million and up 38.6 per cent year-over-year and 8 per cent from 2019. He is now also expecting a quarterly record for earnings before interest, taxes, depreciation and amortization of $83.5-million, a jump of 309 per cent year-over-year and up from his previous $52.6-million projection. The analyst also thinks his estimates for the company's fourth quarter could prove to be "conservative," expecting significant gains from the Oct. 13 release of Taylor Swift: The Eras Tour.

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