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Cineplex Inc (CGX-T)
314 watching
TSE:CGX
8.55
0.17
(2.03%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
Jan 26, 2023, 9:00 pm
0
DON'T BUY
Too many good shows on competing streaming services. Kids don't go to a movie every Friday the way he used to. Doesn't know what the catalyst is. Dividend gone. Balance sheet probably not in good shape, pandemic did lots of damage. All depends on quality of movies. Media companies all losing money. No growth tailwinds over the next 5 years.
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$8.190
No
DON'T BUY
Business increasing with post pandemic business.
Hard to make as much profit with rise of streaming.
Company doing well with snacks/drinks purchases in theater.
Unsure of the future of the theater business.
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DON'T BUY
Negative shareholders' equity of 256M. Trying to hold its level. Movie releases generate positive news, but he can't assess long-term fundamentals. Pass. Look for value elsewhere.
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DON'T BUY
Tricky sector to invest in at the moment(headwinds with the emergence of streaming technology).
Large global cinema operators going bankrupt.
Consumers looking to reduce spending with higher interest rates and inflation.
Hard time to be in this business.
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PARTIAL BUY
Allan Tong’s Discover Picks With a monopoly in Canadian moviegoing, Cineplex stock has nowhere to go but up. But how far? It's no secret that Covid ravaged its operations and killed the Cineworld takeover. That case is now crawling through the courts as the UK chain appeals the C$1.23 billion in damages found against it. I doubt that Cineworld will win, but I also doubt that Cineworld will pay Cineplex the full amount. I also suffer no illusions that Cineplex will return anywhere near its past highs of $50+ back in 2017. However, it should at least return to $16 last seen in June 2021 and even surpass it. Read Looking ahead with 2 Canadian Stocks for our full analysis.
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RISKY BUY
Takeover deal fell through so they might get some sort of breakup fee. Stock's recovered somewhat. Attendance is still very weak. Very high risk play. Should benefit from the economy reopening. For gamblers.
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DON'T BUY
People own this for the dividend, and pre-Covid this company was innovative with preferred seating and cafes, and programming opera and sports. But this is a difficult environment now; he doesn't see people returning to cinemas given social distancing. Also, the studios are releasing films on streaming. True, a lot of blockbusters will be released, but those films will also be released at home, too.
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DON'T BUY
Has been a confounding company. With covid and all that has happened in the past year, hard to see a near future where it is profitable again. People will go back to the movies, but it will be a slow recovery. Not a huge fan of CGX.
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SELL
Difficulty is that we're still in the pandemic. A lot of content has moved to streaming, so it will be hard to get people back to the theatre, plus logistical problems of health safety. The movie Black Widow will be an interesting test case.
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PARTIAL BUY
Allan Tong’s Discover Picks As a stock, where does Cineplex lie? Common metrics won’t work with CGX stock. For starters, YOY comps don’t exist. Meanwhile, the Cineworld lawsuit is a cloud. In the past week, Cineplex has probably enjoyed some momentum from the AMC euphoria and has climbed about $1 to $16.15 (Monday’s close). Right before the pandemic, Cineplex was trading above $33, though well off its 2017 peak of around $53. The street has three holds and one buy at a price target of $13.13, or almost 18% downside. I disagree. I see a little more upside here. CGX stock is an unscientific gut feeling call as a cautious, partial buy. Read 3 Hot TSX Stocks for our full analysis.
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DON'T BUY
It was doing everything well and they were going to sell the business before the pandemic. Now, the business is ruined. With social distancing and lack of good movies, it is un-investable.
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WATCH
He sold before the Cineworld deal. COVID-19 was a complete disaster for movie theatres. It is too much of a mess for him.
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WATCH
It is depended highly on the takeover offer. Technically the buyer has to continue with the offer but given the buyer's financial position it is unlikely they can continue. If it goes through it could mean high upside. He thinks the deal will be negotiated down some. If it does no go through, it could mean low single digits. He thinks things will come back to what they were in movie theatres. You have to be prepared with this one and to be a gambler.
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Cineplex Inc(CGX-T) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 1
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 4
Total Signals / Votes : 5
Cineplex Inc(CGX-T) Frequently Asked Questions
What is Cineplex Inc stock symbol?
Cineplex Inc is a Canadian stock, trading under the symbol CGX-T on the Toronto Stock Exchange (CGX-CT). It is usually referred to as TSX:CGX or CGX-T
Is Cineplex Inc a buy or a sell?
In the last year, 5 stock analysts published opinions about CGX-T. 1 analyst recommended to BUY the stock. 4 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Cineplex Inc.
Is Cineplex Inc a good investment or a top pick?
Cineplex Inc was recommended as a Top Pick by on . Read the latest stock experts ratings for Cineplex Inc.
Why is Cineplex Inc stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Cineplex Inc worth watching?
5 stock analysts on Stockchase covered Cineplex Inc In the last year. It is a trending stock that is worth watching.
What is Cineplex Inc stock price?
On 2023-01-26, Cineplex Inc (CGX-T) stock closed at a price of $8.55.
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