Cineplex (TSE:CGX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Cineplex Inc. (TSE:CGX)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.92 and traded as high as C$11.33. Cineplex shares last traded at C$11.27, with a volume of 163,878 shares.

Analyst Ratings Changes

A number of research firms have issued reports on CGX. TD Securities reduced their target price on shares of Cineplex from C$17.00 to C$16.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Canaccord Genuity Group increased their target price on shares of Cineplex from C$9.00 to C$10.50 and gave the stock a “hold” rating in a report on Thursday, April 16th. Finally, Royal Bank Of Canada reduced their target price on shares of Cineplex from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. Four investment 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 has a consensus rating of “Moderate Buy” and a consensus price target of C$13.21.

Cineplex Price Performance

The stock’s fifty day moving average price is C$10.63 and its two-hundred day moving average price is C$10.92. The firm has a market capitalization of C$715.26 million, a price-to-earnings ratio of -19.43, a price-to-earnings-growth ratio of 0.30 and a beta of 0.10. The company has a current ratio of 0.52, a quick ratio of 0.22 and a debt-to-equity ratio of -2,256.39.

Cineplex (TSE:CGX) last announced its quarterly earnings data on Wednesday, February 11th. The company reported C$0.01 earnings per share for the quarter. Cineplex had a negative net margin of 2.84% and a positive return on equity of 49.30%. The business had revenue of C$334.77 million for the quarter. Equities research analysts expect 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.