Cineplex (TSE:CGX) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.82 and traded as high as C$11.81. Cineplex shares last traded at C$11.80, with a volume of 178,491 shares traded.

Analyst Upgrades and Downgrades

CGX has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on shares of Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a report on Tuesday, May 12th. TD Securities upgraded shares of Cineplex to a “strong-buy” rating in a report on Friday. Finally, National Bank Financial decreased their price objective on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$13.46.

Cineplex Trading Up 1.7%

The company has a current ratio of 0.37, a quick ratio of 0.22 and a debt-to-equity ratio of -1,703.50. The business has a 50 day simple moving average of C$11.48 and a two-hundred day simple moving average of C$10.82. The stock has a market cap of C$756.04 million, a price-to-earnings ratio of -33.33, a price-to-earnings-growth ratio of 0.30 and a beta of 0.35.

Cineplex (TSE:CGX) last announced its earnings results on Monday, May 11th. The company reported C($0.36) earnings per share (EPS) for the quarter. Cineplex had a negative net margin of 1.72% and a positive return on equity of 27.72%. The business had revenue of C$290.98 million during the quarter. As a group, equities analysts anticipate that Cineplex Inc. will post 1.0754912 EPS for the current year.

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. 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.