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

Cineplex Inc. (TSE:CGX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.12 and traded as high as C$10.44. Cineplex shares last traded at C$10.37, with a volume of 137,691 shares traded.

Analyst Upgrades and Downgrades

CGX has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Cineplex from C$11.50 to C$12.00 in a research report on Thursday, October 17th. TD Securities lifted their target price on Cineplex from C$14.00 to C$16.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Scotiabank lifted their target price on Cineplex from C$10.00 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Desjardins lifted their target price on Cineplex from C$52.00 to C$53.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reduced their target price on Cineplex from C$14.00 to C$13.00 in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cineplex presently has an average rating of “Moderate Buy” and an average price target of C$18.71.

Cineplex Trading Up 1.9 %

The company has a 50-day moving average price of C$10.60 and a 200-day moving average price of C$9.12. The firm has a market capitalization of C$660.36 million, a price-to-earnings ratio of -9.26, a PEG ratio of 0.30 and a beta of 2.74. 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.

Cineplex (TSE:CGX) last released its quarterly earnings data on Friday, August 9th. The company reported C($0.33) earnings per share (EPS) for the quarter. The firm had revenue of C$277.34 million during the quarter, compared to analyst estimates of C$283.90 million. As a group, research analysts forecast that Cineplex Inc. will post 1.0754912 EPS for the current fiscal year.

About Cineplex

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.