Cineplex (TSE:CGX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.32 and traded as high as C$12.49. Cineplex shares last traded at C$12.42, with a volume of 234,202 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CGX shares. Canaccord Genuity Group increased their target price on Cineplex from C$10.50 to C$11.50 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Scotiabank lifted their price target on Cineplex from C$12.00 to C$13.50 and gave the company a “sector outperform” rating in a research report on Wednesday, August 12th. Royal Bank Of Canada upped their price target on Cineplex from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. National Bank Financial increased their price objective on Cineplex from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Finally, TD Securities raised Cineplex to a “strong-buy” rating in a research report on Friday, July 24th. One investment 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’s stock. According to data from MarketBeat.com, Cineplex has a consensus rating of “Buy” and a consensus price target of C$13.83.

Cineplex Stock Up 0.2%

The stock’s 50 day simple moving average is C$12.15 and its two-hundred day simple moving average is C$11.32. The firm has a market cap of C$782.50 million, a P/E ratio of -62.10, a P/E/G ratio of 0.30 and a beta of 0.20. The company has a debt-to-equity ratio of -1,865.57, a current ratio of 0.44 and a quick ratio of 0.22.

Cineplex (TSE:CGX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C$0.12 EPS for the quarter. The firm had revenue of C$383.72 million for the quarter. Cineplex had a positive return on equity of 14.84% and a negative net margin of 0.96%. As a group, research analysts forecast that Cineplex Inc. will post 1.0754912 earnings per share for the current 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.