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

Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.66 and traded as high as C$11.28. Cineplex shares last traded at C$11.10, with a volume of 183,619 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CGX shares. Canaccord Genuity Group lifted their price objective on shares of Cineplex from C$11.50 to C$12.50 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Canaccord Genuity Group lifted their price objective on shares of Cineplex from C$11.50 to C$12.00 in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$18.71.

Cineplex Stock Performance

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’s 50 day simple moving average is C$11.75 and its 200 day simple moving average is C$10.66. The firm has a market capitalization of C$706.85 million, a price-to-earnings ratio of -9.91, a PEG ratio of 0.30 and a beta of 2.74.

Cineplex (TSE:CGX) last posted its earnings results on Wednesday, November 6th. The company reported C($0.39) earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.63). During the same quarter in the previous year, the firm earned $0.40 EPS. Sell-side analysts forecast that Cineplex Inc. will post 1.0754912 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ellis Jacob sold 29,874 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$10.02, for a total value of C$299,337.48. In the last quarter, insiders sold 33,615 shares of company stock valued at $340,197. 1.85% of the stock is owned by corporate insiders.

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.