The trial is tentatively scheduled for September 2021. Cineplex denied the claim and sued Cineworld, claiming billions of dollars in damages. I may withdraw my consent at any time. Receive investor kits and email updates from Stockhouse and directly from these companies. Cineplex (TSX:CGX) stock has been in the doghouse ever since I called its demise back in the summer of 2017 when the stock was a market darling that some income-oriented investors saw as a “safety” play.Fast-forward to today and the stock is down a staggering 70%. For a business that has the liquidity to survive the year, there is potential for a rebound. The Media reporting segment is comprised of the aggregation of two operating segments, cinema media and digital place-based media. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. Fool contributor Joey Frenette has no position in any of the stocks mentioned. The Amusement and Leisure reporting segment is comprised. Please go to the link in the email message to retrieve your password. The Motley Fool’s purpose is to help the world invest, better. Fool contributor Stephanie Bedard-Chateauneuf has no position in any of the stocks mentioned. Here are better stocks to buy than Cineplex…. Cookies are used to offer you a better browsing experience and to analyze our traffic. Cineplex Stock Is Up 20% in 1 Month: Is Now the Time to Buy? Cineplex stock is one of the worst-performing on the TSX this year, dropping about 70%. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. Cineplex Inc is a Canadian stock, trading under the symbol CGX-T on the Toronto Stock Exchange (CGX-CT). appeared first on The Motley Fool Canada. Find the latest CINEPLEX INC. (CGX.TO) stock quote, history, news and other vital information to help you with your stock trading and investing. Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. From peak to trough, shares of Cineplex got cut in half twice, punishing those who attempted to catch the rapidly falling knife on hopes that the box office would recover. The Film Entertainment and Content reporting segment includes all direct and … While I am a raging bull on the longer-term recovery of the movie theatre industry (movie theatres and streamers can co-exist), I don’t think a name like Cineplex is guaranteed to survive long enough to see an industry comeback. It is usually referred to as TSX:CGX or CGX-T Is Cineplex Inc a buy or a sell? Fast-forward to today and the stock is down a staggering 70%. The merger would have created the largest theatre operator in North America. They're hindering efforts to track coronavirus, School pressure, sick lawmakers, go-cups: News from around our 50 states. All rights reserved. Canada’s largest chain of movie theatres said it’s “implementing a number of pricing and marketing strategies to entice its guests to return.”. On Friday, Cannacord Genuity downgraded Cineplex from a Hold to a Sell rating and lowered its 12-month price target to C$7 from C$8. A leading entertainment and media company, Cineplex welcomes millions guests annually through its circuit of theatres and location based entertainment venues across the country. There are a few catalysts that could move the needle for Corus over the longer term, and with shares trading at 0.48 times book, I’d say now is time to back up the truck if you’re looking for an unprecedented bargain that’s disconnected from its underlying fundamentals. Even if COVID-19 vanished tomorrow, Cineplex would still struggle, as movie production has been delayed. The company is in poor financial shape, and it won’t be profitable for a while. Call Corus a cigar butt of an investment if you like. Investment Canada is currently reviewing the Cineplex-Cineworld potential takeover. As such, I would encourage investors to steer clear of a name like Cineplex, given its alarmingly high risk of insolvency, even for those comfortable with placing an “all-or-nothing” type of bet. The Film Entertainment and Content reporting segment includes all direct and ancillary revenues from theatre attendance. Is Cineplex (TSX:CGX) Stock a Buy at $10? Connect with friends faster than ever with the new Facebook app. Click here now for your free subscription to Take Stock, The Motley Fool Canada’s free investing newsletter. But it’s one that still has plenty of puffs left for those willing to pick it up at its dirt-cheap multiple. The company has three business segments, Film Entertainment and Content, Media and Amusement and Leisure. It’s hard to attract people to theatres without attractive movies. *Showtimes are available for online ticket purchase starting Wednesday mornings for the upcoming week (Fri – Thurs). The deadline for such a deal is June 30 and is still subject to a handful of conditions. Canaccord’s analyst Aravinda Galappatthige headlined the downgrading note with “estimates revised down; covenant needs to be renegotiated; downgrading to SELL.”, In the first significant point of this analyst note, Galappatthige says that the critical question is what a renegotiation with the banks would look like. Air Canada vs. Cineplex: Which Is the Better Recovery Play? Many theatres have already reached capacity under physical-distancing rules, and attendance numbers are expected to increase, as new blockbusters come out. Cineplex Inc(CGX-T) Frequently Asked Questions What is Cineplex Inc stock symbol? This case could be stuck in court for years, costing more money for a company that just doesn’t have much to burn right now. While it is risky to bet on a company that’s on the wrong side of a secular trend (cord-cutting continues picking up traction), the line has to be drawn somewhere for a firm that’s still pulling in ample amounts of free cash flow. Cineplex said in June it was working with lenders on a deal to ease financial commitments after London-based Cineworld Group Plc, the world’s second-largest film group, canceled its deal to take over the Canadian chain, alleging breach of contract. appeared first on The Motley Fool Canada. All of the locations have now resumed operations. View the. Then you should read this, Wells Fargo CEO remarks show mindset that sees Black worker training as ‘charity operation’, Timing is everything with federal supports for Canada’s Black-owned businesses. So, not only Cineplex will show outdated or older movies that are struggling to get a ton of customers, but it’ll also have to run those theatres at half capacity. The company lost $98.9 million in the quarter and said free cash flow was -$53.8 million on an adjusted basis. How to Stop the CRA From Taking Back Your $2,000 CERB! Cineplex (TSX:CGX) stock is trading close to $10. Cineplex Inc is a diversified media company that operates chains of movie theaters. Get the latest CINEPLEX INC. (CGX.TO) stock news and headlines to help you in your trading and investing decisions. there will be an increased risk for the company to go bankrupt.

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