Cineplex (TSE:CGX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Cineplex Inc. (TSE:CGX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.90 and traded as high as C$10.49. Cineplex shares last traded at C$10.42, with a volume of 98,890 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Scotiabank boosted their price objective on shares of Cineplex from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada reduced their price target on Cineplex from C$14.00 to C$13.00 in a research report on Wednesday, July 24th. TD Securities increased their price target on Cineplex from C$14.00 to C$16.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Canaccord Genuity Group cut their price objective on Cineplex from C$12.00 to C$11.50 in a research note on Wednesday, September 25th. Finally, Desjardins upped their target price on Cineplex from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$18.64.

Cineplex Trading Down 0.7 %

The company has a debt-to-equity ratio of 30,533.69, a quick ratio of 0.22 and a current ratio of 0.36. The firm has a 50-day moving average of C$10.41 and a 200-day moving average of C$8.90. The firm has a market capitalization of C$663.55 million, a P/E ratio of -9.30, a price-to-earnings-growth ratio of 0.30 and a beta of 2.75.

Cineplex (TSE:CGX) last released its quarterly earnings data on Friday, August 9th. The company reported C($0.33) earnings per share for the quarter. The business had revenue of C$277.34 million during the quarter, compared to analyst estimates of C$283.90 million. On average, equities research analysts anticipate that Cineplex Inc. will post 1.0749251 EPS for the current fiscal year.

Cineplex Company Profile

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.