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

Shares of Cineplex Inc. (TSE:CGX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$10.71 and traded as high as C$12.09. Cineplex shares last traded at C$11.88, with a volume of 439,981 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CGX shares. National Bank Financial reduced their price objective 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 increased their price target on shares of Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$13.46.

Cineplex Stock Performance

The company has a debt-to-equity ratio of -1,703.50, a current ratio of 0.37 and a quick ratio of 0.22. The company has a 50 day simple moving average of C$11.18 and a 200-day simple moving average of C$10.71. The stock has a market capitalization of C$745.96 million, a P/E ratio of -32.89, a price-to-earnings-growth ratio of 0.30 and a beta of 0.34.

Cineplex (TSE:CGX) last announced its quarterly earnings data 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 firm had revenue of C$290.98 million during the quarter. On average, equities analysts forecast that Cineplex Inc. will post 1.0754912 EPS for the current 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.