01:38 PM EST, 01/17/2025 (MT Newswires) -- National Bank of Canada overnight Thursday cut it estimates for Cineplex ( CPXGF )' (CGX.TO) fourth quarter box office revenue to reflect the lower box office which pushed down concession revenue estimates to $108 million from $118 million and moved estimates of Media to $48 million from a prior figure of $50 million.

The investment bank said further conservative revision of LBE revenue estimates to $34 million from $38 million brings total fourth quarter revenue estimates to $370 million. National Bank's Q4 revenue estimate for the outperform-rated company was previously $393 million.

Pursuant to changes made on revenue estimates, the brokerage reduced adjusted EBITDAaL and adjusted EBITDA to $40 million from $55 million, and $81 million from $95 million, respectively, of the company with NBC's $15.00 target price.

"We had CGX box office revs +16% in 2025 and +5% in 2026, with former lowered to +14% as we updated our post-2024 estimates," said NBC in the Q4 preview note.

The brokerage also reduced total revenue estimate to $1.52 billion in 2025 from a prior figure of $1.56 billion, and $1.60 billion in 2026 from $1.63 billion. Analysts of National Bank of Canada led by Adam Shine now sees adjusted EBITDAaL moving down to $200 million in 2025 from $206 million and still just above $230 million in 2026.

Shares of the company closed down $0.19 or 1.7%, to $11.04 on the Toronto Stock Exchange.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 11.02, Change: -0.21, Percent Change: -1.87