Cineplex Inc. posted a 36 per cent rise in revenue compared to this time last year and beat analyst expectations for its third quarter. Cineplex brought in $339.8 million in the quarter compared to the $319 million expected by analysts. The company’s box office revenue was also up 70 per cent compared to pre-COVID figures in the third quarter of 2019.
Yaghi has a sector outperform recommendation on Cineplex shares and a 12-month price target of $14.75 on the stock. Canadian Tire Corporation Inc. missed analyst expectations in its third-quarter earnings. The retail giant reported adjusted earnings per share of $3.34, lower than the analyst consensus of $3.92 EPS . The company’s retail segment was the main drag on profits. Canadian Tire said the impact came from increased freight and product costs for its products.