Cineplex (TSE:CGX) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.24 and traded as high as C$10.56. Cineplex shares last traded at C$10.52, with a volume of 745,296 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of Cineplex from C$14.00 to C$13.00 in a report on Wednesday, July 24th. Scotiabank increased their price target on shares of Cineplex from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. TD Securities boosted their price objective on shares of Cineplex from C$14.00 to C$16.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Canaccord Genuity Group increased their price objective on Cineplex from C$11.50 to C$12.00 in a research report on Thursday, October 17th. Finally, Desjardins boosted their target price on Cineplex from C$52.00 to C$53.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.71.

Cineplex Stock Down 2.4 %

The firm’s 50-day simple moving average is C$10.58 and its 200 day simple moving average is C$9.24. The company has a debt-to-equity ratio of 30,533.69, a quick ratio of 0.22 and a current ratio of 0.36. The company has a market cap of C$669.91 million, a P/E ratio of -9.39, a PEG ratio of 0.30 and a beta of 2.74.

Cineplex (TSE:CGX) last released its quarterly earnings data on Friday, August 9th. The company reported C($0.33) EPS for the quarter. The company had revenue of C$277.34 million during the quarter, compared to analyst estimates of C$283.90 million. On average, research analysts forecast that Cineplex Inc. will post 1.0754912 earnings per share for the current fiscal year.

About Cineplex

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.