Cineplex (TSE:CGX) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Cineplex Inc. (TSE:CGX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.96 and traded as high as C$12.81. Cineplex shares last traded at C$12.75, with a volume of 158,497 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CGX. National Bank Financial decreased their price objective on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Canaccord Genuity Group upped their price objective on Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a report on Tuesday, May 12th. Finally, TD Securities upgraded shares of Cineplex to a “strong-buy” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Cineplex currently has a consensus rating of “Buy” and a consensus target price of C$13.46.

Cineplex Stock Performance

The firm’s fifty day moving average is C$11.83 and its 200 day moving average is C$10.96. The firm has a market capitalization of C$803.29 million, a price-to-earnings ratio of -35.42, a PEG ratio of 0.30 and a beta of 0.36. The company has a debt-to-equity ratio of -1,703.50, a current ratio of 0.37 and a quick ratio of 0.22.

Cineplex (TSE:CGX) last released its earnings results on Monday, May 11th. The company reported C($0.36) earnings per share (EPS) for the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%.The company had revenue of C$290.98 million during the quarter. On average, analysts predict that Cineplex Inc. will post 1.0754912 EPS for the current fiscal year.

Cineplex Company Profile

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.