Cineplex (TSE:CGX) Shares Cross Above 200 Day Moving Average – What’s Next?

Cineplex Inc. (TSE:CGX)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.69 and traded as high as C$11.66. Cineplex shares last traded at C$11.61, with a volume of 109,037 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group raised their price objective on Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a report on Tuesday, May 12th. National Bank Financial dropped their target price on Cineplex from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$13.46.

Cineplex Price Performance

The company has a current ratio of 0.37, a quick ratio of 0.22 and a debt-to-equity ratio of -1,703.50. The company has a 50 day moving average price of C$11.34 and a 200 day moving average price of C$10.69. The company has a market capitalization of C$731.46 million, a P/E ratio of -32.25, a P/E/G ratio of 0.30 and a beta of 0.34.

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

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. 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.