Q: Hi 5i
How do you view CGX current earnings.... another big hit to the share price...
Current share holder, still have a 2 year horizon but trying to decide.... buy hold or move on.
Thx
How do you view CGX current earnings.... another big hit to the share price...
Current share holder, still have a 2 year horizon but trying to decide.... buy hold or move on.
Thx
5i Research Answer:
CGX lost 19c per share vs estimates of -4c. Revenue of $315M missed estimates of $321M. It did announce a comprehensive refinancing package which gives it a bit more financial flexibility, but the balance sheet remains the biggest issue here. Attendance rose 4.2%, concession revenue per patron rose to $9.28 from $8.77. With close to $2B in obligations, CGX spent $155M in interest charges last year. Essentially, all its cash is going to debt charges. It is hard to endorse and we think investors can move on.