How Can You Get the $2,000 CERB in November? 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. Should You Buy Aphria (TSX:APHA) After Its Recent Pullback? While it likely does not mean paying less to film studios for content, he expects advantages in co-operating with studios on marketing and promotions. Fool contributor Andrew Walker has no position in any stock mentioned. This is your chance to get in early on what could prove to be very special investment advice. Why pricey Cineplex stock is still a worthy buy. Cineworld had US$4.1-billion in revenue last year. We hope to have this fixed soon. Cineplex’s high debt balance of $2 billion might concern investors given that it’s almost twice the company’s market cap. © 2020 The Motley Fool Canada, ULC. Cineplex and other theatre outlets rake in money when a highly anticipated movie is released. The Toronto-based company’s spokesperson Sarah Van Lange wouldn’t say exactly how many jobs are being cut overall, but says the layoffs will impact fewer than 100 employees. The new plunge in Cineplex stock occurred after U.K.-based Cineworld shocked the market by announcing it would close … Do You Have $5,000 to Invest in Your TFSA? Cineplex’s stock tumbled nearly 40 per cent in the past 12 months. I understand I can unsubscribe from these updates at any time. But occasionally, I see value in different ways, even in pricey stocks. Cineplex will continue to have a head office in Toronto, Mr. Greidinger said, but some operations will be shifted to other offices, such as the Regal headquarters in Knoxville. 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. In 1999, Onex's Gerald Schwartz and Anthony Munk partnered with film executive Ellis Jacob to form Galaxy Entertainment, aiming to grow in untapped markets. Cineplex is an overvalued stock with falling profit margins and high debt. A number of provinces are experiencing a new wave of coronavirus cases, increasing the risk that theatres might be forced to close again. Pompeo, who was appointed to his position by President Donald Trump, praised the Republican president's foreign policy record in a speech recorded in Jerusalem in August during a trip to Israel. We are competing for their free time outside of the house.”. But think about the upside. Don't miss out! But in time, I firmly believe that what seems like an expensive equity will look cheap. This investment in premium formats, along with Cineplex’s market share and customer data from its 10 million loyalty-program members, were all factors that drew Cineworld to the deal. With winter looming and confirmed viral cases rising, Bob Szuter's craft brewery and restaurant in Columbus, Ohio, could use another government lifeline to help survive until spring. Some Canadian cities have already ordered movie theatres to close due to the second wave of COVID-19. Onex emerged with the Canadian theatres, after selling the U.S. assets with its partners for $2-billion. Carolina recently lost two-time Pro Bowl defensive tackle and team co-captain Kawann Short to a season-ending shoulder injury. Follow Susan Krashinsky Robertson on Twitter, I'm a print subscriber, link to my account, Avoid the use of toxic and offensive language. Click here now for your free subscription to Take Stock, The Motley Fool Canada’s free investing newsletter. The stock is trading at $24.8 — 9.5% above its 52-week low and 30% below its 52-week high. Today, it controls almost 80 per cent of the Canadian market. This is a space where subscribers can engage with each other and Globe staff. Gabriel Lowenberg is CEO and president of Lowenberg Investment Counsel Inc., an independent wealth investment management firm, which owns Cineplex and Onex for the benefit of its clients. FSLY stock was down 27.6% as of Thursday morning but is up 315.5% year-to-date. After already having been involved in the first over with that misfield, Prasidh Krishna gets an early chance to make amends for his mistake, he's bowling the second over. Disney decided to release Mulan on its streaming service, charging a US$30 fee to see the movie on top of the monthly subscription for the other content. © 2018 Global News, a division of Corus Entertainment Inc. People leave a Cineplex theatre in Toronto on November 4, 2016. However, there is … Starring Mamoudou Athie (Sorry for Your Loss, The Detour) and Dina Shihabi (Altered Carbon, Tom Clancy’s Jack Ryan), the eight-episode supernatural/horror thriller centers on Athie's Dan Turner, an archivist who takes a […]. 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. 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. Full Disclaimer. Cineplex had $649-million of long-term debt at Sept. 30. If Disney and other studios can get enough revenue and profits directly through streaming, they might simply cut out the theatres. © Copyright 2020 The Globe and Mail Inc. All rights reserved. Please read the Privacy Statement and Terms of Service for more information. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. Like Cineplex’s CEO, Mr. Greidinger has pushed back at streaming services such as Netflix, saying he will only show movies they produce in theatres if the exclusive time frame for theatrical release is preserved, before content goes online. The Motley Fool’s purpose is to help the world invest, better. Cineplex investors have been spooked by the industry’s challenges; after an earnings miss in 2017, the share price slid considerably and has not totally recovered. Want to discuss? However, analysts have forecast Cineplex earnings to fall at an annual rate of 13.1% over the next five years. "It should also be noted that given the high number of infections in many European countries, further restrictions on travel in the future cannot be excluded, which would risk complicating any return to Italy.". “There will be a big battle in the streaming arena because of these huge players that are entering now,” Mr. Greidinger said. Cineplex now has a market capitalization of $307 million. The Motley Fool Canada » Investing » Why Did Cineplex Stock Fall Again? Traffic to movie theatres has been slowing everywhere. Cineplex stock has fallen 25% in the last 12-months. If you go to the cinema, you may also have noticed that ticket prices have not increased meaningfully in years. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Just Released! "In view of the worsening epidemiological situation in Europe, the foreign ministry recommends that all compatriots avoid travelling abroad except for strictly necessary reasons," said a statement said on the ministry's website. The dividend account for 209% of company earnings. Cam Newton knew he was playing badly on Sunday, so he wasn't surprised when Bill Belichick benched him. Cineworld’s Regal chain launched a similar service in the United States in July. This year, FanDuel and DraftKings will pay out nearly $3-billion in prizes. The company has expanded through acquisitions: After completing its US$3.6-billion purchase of Knoxville, Tenn.-based Regal Entertainment Group last year, it became the world’s second-largest theatre chain, after AMC. The Democratic leaders of two U.S. House of Representatives Committees said on Monday the Office of Special Counsel had launched an investigation of Secretary of State Mike Pompeo's speech to the Republican National Convention in August. This is a space where subscribers can engage with each other and Globe staff. At Cineplex, attendance has fallen for the past three years. Nikola stock (NASDAQ: NKLA) is crashing, and executive chairman Trevor Milton claims he knows the reason why: A whale did it. Let me explain. Netflix is raiding Archive 81, ordering a series adaptation of the popular found footage horror podcast. Cineplex’s stock tumbled nearly 40 per cent in the past 12 months. The target price is 27% higher than the current trading price. A seven-week “go-shop period,” expiring Feb. 2, allows Cineplex, which represents three-quarters of the Canadian market, to entertain other offers. Cineworld had agreed to buy Cineplex late last year, but pulled out of the deal in June due to the pandemic. Adam Shine, an analyst from National Bank Financial, downgraded Cineplex stock to a “Hold” from a “Buy” rating over the weekend shortly after the James Bond movie was officially postponed. Not to alarm you, but you’re about to miss an important event. Views and opinions expressed in this article are those of Mr. Lowenberg alone and do not constitute investment advice. In addition, the reduced wage subsidy might push up unemployment levels in the coming months.
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