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

Cineplex Inc. (TSE:CGX)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$11.51 and traded as high as C$12.28. Cineplex shares last traded at C$11.95, with a volume of 134,102 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CGX. Canaccord Genuity Group upped their target price on shares of Cineplex from C$11.00 to C$13.00 in a research note on Friday, October 17th. National Bankshares lowered their price target on Cineplex from C$13.50 to C$13.00 and set an “outperform” rating for the company in a report on Tuesday, September 30th. BMO Capital Markets raised their price objective on Cineplex from C$13.00 to C$14.00 in a report on Friday, October 17th. TD Securities lifted their target price on Cineplex from C$16.00 to C$17.00 in a research report on Monday, November 10th. Finally, Scotiabank upped their target price on Cineplex from C$12.00 to C$12.75 and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Cineplex presently has an average rating of “Moderate Buy” and an average price target of C$13.96.

Cineplex Stock Performance

The business has a 50-day moving average of C$12.00 and a two-hundred day moving average of C$11.51. The company has a market cap of C$758.11 million, a P/E ratio of -22.13, a P/E/G ratio of 0.30 and a beta of 0.52. 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.

Cineplex (TSE:CGX) last announced its earnings results on Thursday, November 6th. The company reported C$0.02 EPS for the quarter. The business had revenue of C$348.94 million during the quarter. Cineplex had a negative net margin of 2.83% and a positive return on equity of 172.20%. On average, sell-side 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.