|Bid||33.88 x 0|
|Ask||33.89 x 0|
|Day's Range||33.86 - 33.91|
|52 Week Range||22.25 - 34.39|
|Beta (5Y Monthly)||0.44|
|PE Ratio (TTM)||40.87|
|Earnings Date||Feb. 12, 2020 - Feb. 16, 2020|
|Forward Dividend & Yield||1.80 (5.31%)|
|Ex-Dividend Date||Dec. 28, 2019|
|1y Target Est||33.75|
TORONTO , Jan. 21, 2020 /CNW/ - (TSX: CGX), Cineplex Inc. announced today its cash dividend of $0.150 per share for the month of January 2020 payable on February 28, 2020 to shareholders of record on January ...
TORONTO , Jan. 17, 2020 /CNW/ - (CGX.TO) – Cineplex Inc. ("Cineplex") today announced that it has mailed the management information circular (the "Circular") and related materials for the special meeting (the "Meeting") of Cineplex shareholders to approve the previously announced plan of arrangement under the Business Corporations Act ( Ontario ) (the "Arrangement"), pursuant to which Cineworld Group plc ("Cineworld") (CINE.L) has agreed to acquire, through an indirect wholly-owned subsidiary of Cineworld (the "Purchaser") all of the issued and outstanding common shares of Cineplex (the "shares") for $34 per share in cash (the "Consideration"), all as more particularly described in the Circular (the "Transaction") and Cineplex's news release dated December 16, 2019 .
TORONTO , Jan. 15, 2020 /CNW/ - (CGX.TO) – This Sunday, January 19 , Cineplex invites movie-lovers across Canada to visit their local theatre and indulge in the world's most popular movie theatre snack — popcorn! In celebration of National Popcorn Day, over 10 million SCENE card holders can enjoy a free bag of Cineplex's famous, buttery popcorn. To take advantage of this delicious deal, SCENE members can visit any one of Cineplex's 165 theatres across the country and scan their membership card or barcode on the SCENE app at concession.
Following a recent acquisition announcement, shareholders of Cineplex (TSX:CGX) continue to question the long-term feasibility of the once-stellar investment. Here's what investors need to know.
Cineplex stock saw an explosive upsurge in its market value when the news of its acquisition by Cineworld — the world's second-largest cinema chain — reached investors.
The share price for Canadian media giant Cineplex Inc. (TSX:CGX) soared this week as the entertainment industry undergoes a sea change.
Cineplex Inc. received a takeover offer of $34 per share from Cineworld Group PLC. Here is why Cineplex shareholders are receiving a good deal.
Here’s why Cineplex Inc. (TSX:CGX) soared more than 40% Monday, and what Canadians need to know about the streaming wars.
Cineplex (TSE:CGX) shares have had a really impressive month, gaining 40%, after some slippage. The full year gain of...
Canadian moviegoers may soon be able to sign up for an all-you-can-view subscription service if shareholders approve a $2.8-billion takeover deal of the country's largest cinema chain.Cineplex Inc. and U.K.-based Cineworld Group PLC announced the deal Monday. It requires shareholder and regulatory approvals, but the companies expect it to close in the first half of next year.Once that happens, Cineworld plans to start selling its Unlimited movie pass in Canada. The service, which the company operates in some of its existing markets, has consumers pay a monthly fee to watch as many movies as they want — with an upgrade fee for special viewing options, such as 3D or Imax. The pass also includes perks like food discounts and advance screenings.Cineplex's Scene loyalty program is expected to continue, the company said. "We have no reason to believe that there will be any changes to the Scene program as a result of this transaction," spokeswoman Sarah Van Lange wrote in an email.The success of the Unlimited pass is "indisputable" in the chain's U.K. and Polish operations, said Cineworld CEO Moshe Greidinger during a conference call outlining the acquisition plans, adding it outperforms the company's expectations."This is to support cinema lovers who want to see many movies in a month."At Cineworld's U.S. chain, Regal, the pass costs between US$18 and $23.50 monthly, plus tax, depending on how many theatres it includes.Currently, a Cineplex general admission ticket at a Toronto theatre costs $13.99, while a special showing can run as high as $24.99 for a 4DX experience, which adds environmental effects, like lightning and scent, to movie watching.Greidinger noted Cineworld's unlimited pass provides more ease for consumers to upgrade to a premium viewing experience, such as 3D, because the upgrade fee feels smaller once the pass is already paid for rather than when faced with the increase between a regular and premium ticket price.The company completed its acquisition of Regal in the U.S. in March 2018 and rolled out the Unlimited pass at the end of July. It plans to do so "quicker" in Canada, said Greidinger.Cineplex has dabbled in a similar program. It started testing Scene Gold in Edmonton in October 2018. The upgraded version of its free loyalty program allows members to pay $6.99 a month in exchange for faster points accumulation and more frequent free movies, no upgrade fee from a general admission to a premium ticket, and other perks. The program remains in pilot and only in Edmonton, Cineplex's Van Lange said in an email.Still, Cineplex has mainly resisted the notion of an all-access movie pass. When a third-party movie pass company, Sinemia, launched in Canada in 2018 offering a set fee for a number of movies a month, Cineplex said it has "no relationship with them." Sinemia has since shuttered operations.In addition to the movie pass, Cineworld plans to roll out reserved seating and enhanced concessions, according to its shareholder presentation on the proposed acquisition.At the company's U.K. chain, Cineworld, consumers must choose a seat when booking their tickets. The online price includes a 75-pence booking charge.Cineworld's opportunity to optimize online sales and roll out reserved seating would include an "incremental margin," according to the investor presentation.Currently, Cineplex offers the ability to reserve seats based on location and type of experience, wrote Van Lange, but has plans to expand the service across its entire network early next year.The Canadian chain rebranded as an entertainment company in recent years in an effort to overcome declining attendance and boost profits.In 2018, the chain filled about 69.3 million seats, according to its most recent annual report. That number has consistently fallen since it hit a recent high of roughly 77 million in 2015.The drop in numbers came as movie theatres face growing competition from streaming services such as Netflix, Crave, Amazon Prime Video, Apply TV Plus and, most recently, Disney Plus.Cineplex's share price has reflected industry challenges, falling from above $50 in the summer of 2017 to a range of $22 to $27 after the company's second-quarter financial results missed analyst expectations.It doubled down on premium experiences, expanded food services and added events coverage. It created an amusement and leisure segment, building up The Rec Room, Playdium and Topgolf Canada locations.Cineworld may opt to divest some of Cineplex's offerings in the future, wrote Adam Shine, an analyst with National Bank of Canada, in a research note.Shine singled out the company's digital media segment as well as its location-based entertainment platform, which includes the three amusement locations, for possible divestiture."One wonders if Cineworld will have the same appetite to roll out as many locations as Cineplex had envisioned and whether this business segment could also get sold at some point down the road," he wrote in response to questions from The Canadian Press.Cineplex declined an interview request, with Van Lange saying the company can not provide additional information while it is involved in a seven-week period during which Cineplex can solicit, evaluate and negotiate other acquisition offers from third parties. That period expires on Feb. 2.Cineplex's board of directors recommended that shareholders vote for the acquisition and the company's shares soared more than 41 per cent, or $9.94, to $33.95 on the Toronto Stock Exchange Monday.— With files from David PaddonThis report by The Canadian Press was first published Dec. 16, 2019.Companies in this story: (TSX:CGX)Aleksandra Sagan, The Canadian PressNote to readers: This is a corrected story. An earlier version incorrectly stated when it was first published.
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (17,056.36, up 53.23 points.)Largo Resources Ltd. (TSX:LGO). Materials. Down 11 cents, or 9.65 per cent, to $1.03 on 10.6 million shares.Encana Corp. (TSX:ECA). Energy. Up 22 cents, or 3.96 per cent, to $5.78 on 8.8 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 16 cents, or 4.61 per cent, to $3.31 on 7.6 million shares.First Capital Realty Inc. (TSX:FCR). Real estate. Down 19 cents, or 0.91 per cent, to $20.80 on 5.6 million shares.Cineplex Inc. (TSX:CGX). Telecommunications. Up $9.94, or 41.4 per cent, to $33.95 on 5.5 million shares.Algonquin Power & Utilities Corp. (TSX:AQN). Utilities. Up 16 cents, or 0.86 per cent, to $18.75 on 5.4 million shares. Companies in the news:Hudson's Bay Co. (TSX:HBC). Down 22 cents or 2.5 per cent to $8.66. Hudson's Bay Co. will postpone a shareholder vote on a takeover offer after an Ontario Securities Commission ruling and as a dissident shareholder threatens to "take additional steps" if the retailer fails to reconsider its higher-priced offer. The department store chain had scheduled a meeting for Tuesday for shareholders to decide on a $10.30 per share privatization offer led by HBC's executive chairman Richard Baker. A new date will be scheduled as soon as practicable, HBC said. The retailer also will provide shareholders with an amended management information circular, it said, with additional information as required by the OSC.Cineplex Inc. — Canada's largest movie chain has agreed to a $2.8-billion friendly takeover deal as theatres struggle with declining attendance amid increased competition for moviegoers' attention. U.K.-based Cineworld Group PLC will pay $34 per Cineplex share in cash, which amounts to a 42 per cent premium to the closing price for the chain's shares Friday. Cineworld will also take on the debt owed by Toronto-based Cineplex. Cineplex's board of directors recommends shareholders vote for the acquisition. If the deal is approved, Cineplex and its 165 movie theatres across Canada will become part of Cineworld's global chain, listed on the London Stock Exchange.Bausch Health Companies Inc. (TSX:BHC). Down $1 or 2.4 per cent to $39.89. Bausch Health Companies Inc. says it will pay more than $1 billion to settle a lawsuit over a stock plunge that hit investors about four years ago. The settlement allows the Quebec-based firm, previously known as Valeant Pharmaceuticals, to further emerge from the tide of litigation that has seen more than 160 cases settled or resolved since 2017. Bausch Health says the US$1.21-billion agreement will resolve all claims against it in the so-called Valeant stock drop case, its largest securities class action, which was filed in a U.S. district court in October 2015. A Canadian class action, among other legal claims, is ongoing.Hexo Corp. (TSX:HEXO). Down 10 cents or 3.4 per cent to $2.85. Cannabis company Hexo Corp. says it lost $62.4 million in its latest quarter compared with a loss of $12.8 million in the same quarter last year. The loss amounted to 24 cents per diluted share for the quarter ended Oct. 31, compared with a loss of seven cents per share a year ago when the company had fewer shares outstanding. Net revenue for what was the first quarter of the company's financial year totalled $14.5 million, up from $5.7 million a year ago. Hexo announced in October that it was cutting 200 jobs to adjust for expected future revenues and "ensure the long-term viability" of the firm. The company said it took a corporate restructuring charge of $3.7 million in the quarter related to severance and other payroll related termination costs.This report by The Canadian Press was first published Dec. 16, 2019.The Canadian Press
Shares of Cineplex Inc. (CGX.TO) skyrocketed as much as 42 per cent on Monday after it agreed to be purchased by a U.K-based cinema company for $2.8 billion.
Saving $1 million in 10 years is hard to believe. The only way it could happen is to choose a lifestyle with very little expenses and invest your savings in AHIP stock, Chemtrade stock, and Cineplex stock.