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

Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.74 and traded as high as C$11.46. Cineplex shares last traded at C$11.41, with a volume of 152,234 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Cineplex from C$14.00 to C$13.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Canaccord Genuity Group raised their price objective on shares of Cineplex from C$10.50 to C$11.50 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Finally, National Bank Financial cut their target price on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$13.46.

Cineplex Price Performance

The company has a quick ratio of 0.22, a current ratio of 0.37 and a debt-to-equity ratio of -1,703.50. The stock has a market cap of C$724.15 million, a P/E ratio of -31.69, a price-to-earnings-growth ratio of 0.30 and a beta of 0.11. The business’s 50-day simple moving average is C$10.91 and its two-hundred day simple moving average is C$10.74.

Cineplex (TSE:CGX) last issued its earnings results on Monday, May 11th. The company reported C($0.36) earnings per share for the quarter. The business had revenue of C$290.98 million for the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%. Sell-side analysts expect that Cineplex Inc. will post 1.0754912 EPS 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.