If you are looking to give feedback on our new site, please send it along to, To view this site properly, enable cookies in your browser. Sign up for our weekly email newsletter delving into climate science and life on a changing planet. The company said its second-quarter revenue fell by 95% to a total of $22 million. Why you might wait a bit longer this time. With all of this being said, I would hold off on investing in Cineplex today and only revisit the idea of an investment if the industry takes a turn for the better in 2018.
TORONTO—Shares of Cineplex Inc. fell more than 10 per cent after a short-seller suggested the company’s $2.8-billion deal to be acquired by Cineworld PLC could fall apart or … As reflected in Cineplex’s 2017 financial report, box office revenues slightly increased year-over-year amid a rise in ticket prices, up 3.2 per cent on … By contrast, Nolan’s previous film – the 2017 World War II epic ‘Dunkirk’ – opened to a weekend gross of US$50 million in July 2017. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. Download the CTV News app now. The information you requested is not available at this time, please check back again soon. © 2018 Global News, a division of Corus Entertainment Inc. People leave a Cineplex theatre in Toronto on November 4, 2016. The company’s shares have plummeted in 2020, in part due to the losses the company sustained while its cinemas were unable to open its doors, but also due to the collapse of its planned $2.15-billion takeover by U.K. cinema chain Cineworld Plc. Cineplex has already taken tough medicine to deal with the crisis, such as laying off its full- and part-time staff, suspending capital spending, halting dividend payments, seeking rent relief from landlords and applying for any government support programs available. Data is provided by QuoteMedia.com. Canada’s largest theatre chain is ending its run on the S&P/TSX Composite Index. Just Released! Shares of Cineplex Inc. fell more than 10 per cent after a short-seller suggested the company's $2.8-billion deal to be acquired by Cineworld PLC could fall apart or … The case will be a test over what constitutes a legitimate reason to terminate an agreed-upon takeover arrangement as business conditions change suddenly and dramatically. It said on Monday it plans to bolster its balance sheet while preparing for the gradual reopening of its movie screens across the country. Not to alarm you, but you’re about to miss an important event. Interpol issues 'red notice' for Red Bull heir over hit-and-run, Tracking every case of COVID-19 in Canada, Trump takes a brief car ride, ignoring standard COVID-19 precautions, Seven reasons Canada's COVID-19 situation could worsen in the coming weeks, Canadians with COVID-19 or caring for those with it can apply for federal money Monday, CERB is ending, here is what to know about your benefits. Joseph Solitro ... and its stock has responded by falling over 10% in early trading. I'm a print subscriber, link to my account, Avoid the use of toxic and offensive language. Full Disclaimer. “It is very unclear how eager consumers are to return to a crowded theatre until there is much more clarity regarding the state of the pandemic.
7, 2020 at 11:46 a.m. The results that failed to impress the market. Here’s a breakdown of 10 of the most notable statistics from Cineplex’s three-month period ended on June 30, 2017, compared with the same period in 2016: It was a very weak quarter overall for Cineplex, and it capped off a tough first half of the year for the company, in which its attendance decreased 3.6%, its net income decreased 15.1%, and its adjusted EBITDA decreased 2.4% compared with the year-ago period. All rights reserved. Even Christopher Nolan’s latest movie 'Tenet' – which had been scheduled for a July 17 release by Warner Bros. Pictures – has been hampered by attendance restrictions. Cineplex has now reopened all of its theatres across the country, providing a lift for the stock price in the past few weeks. Her story is all too common. Copyright 1998 - 2020 Baystreet.ca Media Corp. All rights reserved.
Cineplex lays off nearly 100 staff, stock down almost 40 per cent since last year.
Tom Gardner owns shares of Netflix.
Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Please read the Privacy Statement and Terms of Service for more information. Cineplex, the dominant movie and theatrical entertainment company in Canada, has had a rough year, culminating in the layoffs of nearly 100 full-time employees this week. Cineplex Inc. will be one of two companies removed from Canada’s benchmark index on Sept. 21, according to a Friday release from S&P Dow Jones Indices. Simply click the link below to grab your free copy and discover all 5 of these stocks now. 5 Stocks Under $49 (FREE REPORT). The number of advertisers also have been relatively stagnant after a sharp drop in Q4 2017.
Last night, AMC Entertainment Holdings Inc. (NYSE:AMC), the world’s largest owner and operator of movie theatres, provided very weak guidance for its second quarter and went on to state that it anticipates a “very challenging third quarter.”. A Cineplex theatre in Toronto is seen on Monday, December 16, 2019. Physical-distancing requirements and travel restrictions have hit the entertainment industry particularly hard, and its fortunes remain unclear as provincial governments implement staged plans to reopen their economies. Hindenburg, which said it is short Cineplex shares, raised concerns about the debt involved in the deal and said the new coronavirus has put pressure on theatre operators. We hope to have this fixed soon. Cineplex’s shares plummeted in 2020, in part due to the losses the company sustained while its theatres were closed, but also due to the collapse of its planned $2.15-billion takeover by U.K. cinema chain Cineworld Plc. Some investors had … Despite the revenue drop, Cineplex Chief Executive Officer Ellis Jacob has expressed his optimism for the company’s future success on multiple occasions during the pandemic, citing the strength of coming movie releases and the promotional role cinemas play in the film industry. If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. In contrast, Nolan’s previous film – the World War II epic ‘Dunkirk’ – opened to a weekend gross of $50 million U.S. in July 2017. Even Christopher Nolan’s ‘Tenet’ – which had been scheduled for a July 17 release by Warner Bros. Pictures – has been hampered by attendance restrictions. Cineplex’s stock surged more than 40 per cent from Friday’s closing price on news of the deal and closed at $33.96 on Monday. The company saw a 95-per-cent second-quarter revenue drop to a total of $22 million. Please log in to listen to this story. CGX's most recent monthly dividend payment was made to shareholders of record on Friday, February 28. The release of the James Bond movie "No Time To Die" was pushed back by several months this week due to concerns about COVID-19. Cineplex shares were … READ MORE: Mariah Carey reveals her battle with bipolar disorder. This is a space where subscribers can engage with each other and Globe staff. Cineplex Inc. is planning to reopen its movie theatres and shore up its finances as it plots a course as a stand-alone business following the termination of its takeover by Cineworld Group PLC. This translation has been automatically generated and has not been verified for accuracy. Wherever the Market Goes, I’m Buying These Top TSX Stocks, 5 Top Value Stocks to Buy in October 2020, Why Canopy Growth (TSX:WEED) Stock Fell Over 11% Last Month, Why Hexo (TSX:HEXO) Stock Fell 8.4% Last Month. The Walt Disney Company did an end-run around cinemas with its latest offering, ‘Mulan,’ instead offering the film for a ‘premium’ fee of $34.99 on its Disney+ streaming service. ), READ MORE: Ed Sheeran confused for Prince Harry on royal wedding plate. Should You Buy Enbridge (TSX:ENB) and TC Energy (TSX:TRP) Stock at Current Levels? Update: You may have noticed Cineplex stock has performed quite miserably since this post. Bluebell Capital Partners Ltd, a fund based in London that holds an undisclosed stake in Cineplex, urged the Canadian government to block the deal, according to a letter sent to Canadian officials and seen by Bloomberg News. Cineplex Inc. (TSX:CGX), one of Canada’s leading entertainment and media companies and its largest owner and operator of movie theatres, announced its second-quarter earnings results this morning, and its stock has responded by falling over 10% in early trading. Cineplex Inc. will be one of two companies removed from Canada’s benchmark index on Sept. 21, according to a Friday release from S&P Dow Jones Indices. Audio for this article is not available at this time. That means: Comments that violate our community guidelines will be removed.
We expect theatres will re-open initially with 30 to 50 per cent capacity to ensure social distancing,” Mr. Casey wrote in a research note. Cineplex shareholders voted last month to approve Cineworld's offer of $34 per share in cash. The Motley Fool Canada » Dividend Stocks » Why Cineplex Inc. Is Plummeting Today, Joseph Solitro | August 2, 2017 | More on: CGX. Welcome to The Globe and Mail’s comment community. The company said it is confident it will be able to deal with any liquidity issues arising from pandemic-related restrictions. We aim to create a safe and valuable space for discussion and debate. Click here to subscribe.
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