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

Cineplex Inc. (TSE:CGX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.68 and traded as high as C$11.85. Cineplex shares last traded at C$11.79, with a volume of 634,585 shares changing hands.

Wall Street Analysts Forecast Growth

CGX has been the topic of a number of recent research reports. National Bankshares cut their target price on shares of Cineplex from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada upped their price target on shares of Cineplex from C$13.00 to C$14.00 in a research report on Monday, May 12th. Finally, Canaccord Genuity Group decreased their price objective on Cineplex from C$14.00 to C$11.00 in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Cineplex has an average rating of “Buy” and a consensus price target of C$18.79.

Cineplex Stock Up 5.8%

The firm’s fifty day moving average price is C$9.76 and its 200-day moving average price is C$10.68. The company has a debt-to-equity ratio of -4,623.78, a current ratio of 0.43 and a quick ratio of 0.22. The firm has a market capitalization of C$744.56 million, a P/E ratio of -19.84, a PEG ratio of 0.30 and a beta of 2.74.

About Cineplex

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.