Cineplex (TSE:CGX) Shares Pass Above 200 Day Moving Average – Here’s Why

Cineplex Inc. (TSE:CGX)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$10.76 and traded as high as C$11.67. Cineplex shares last traded at C$11.41, with a volume of 186,078 shares traded.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. National Bank Financial lowered their price target on Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Canaccord Genuity Group boosted their price objective on shares of Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$13.46.

Cineplex Stock Performance

The firm has a market cap of C$718.86 million, a P/E ratio of -31.69, a PEG ratio of 0.30 and a beta of 0.35. The company has a debt-to-equity ratio of -1,703.50, a quick ratio of 0.22 and a current ratio of 0.37. The stock’s 50-day moving average is C$11.36 and its 200 day moving average is C$10.76.

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, research analysts predict that Cineplex Inc. will post 1.0754912 earnings per share 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.