Stocks of Canadian cinema chain Cineplex (TSE:CGX) have been gaining lifts as people return to cinemas after the Covid-19 pandemic.
Maximize your portfolio with data-driven insights.
You can leverage the power of Tipranks’ Smart Score, a data-driven tool, to help you discover the best performance and make informed investment decisions. Monitor your stock picks and compare them with topwall street analyst recommendations in your smart portfolio
The Toronto-based company reported strong financial results for the fourth quarter of 2024, with an earnings per share (EPS) of $0.05 (US$0.035). Revenue for this period totaled $362.7 million, up from $335.1 million in the last month of 2023.
Cineplex saw a 15% increase in total sales for the fourth quarter 2024 from the previous year, with box office revenue per cinema reaching $13.26 from $12.90 in the quarter 2023, while sales from the concession stands were up. He said it has increased. From $9.28 a year ago to $9.41.
Strong slate in the movie
Cineplex said people are steadily returning to film homes and are attracted to the stronger film slate. In the final quarter of last year, box office gross got elevators from several blockbuster films, including “Gladiator II” and “Wicked.”
Cineplex’s latest financial results are improving the company after some difficult years prompted by the Covid-19 pandemic, in which many cinemas were forced to close or operate.
CGX stocks are rising along with ticket receipts. Over the past 12 months, Cineplex stock has increased by 34%.
Do you buy CGX stock?
Cineplex’s stock has consensus on a strong buy rating among three Wall Street analysts. The rating is based on three purchasing recommendations issued over the past three months. Currently, there are no hold or sale ratings for stocks. The average CGX price target of $13.52 means an upside of 28.49% from current levels.
Read more analyst ratings for CGX Stock
