Cineplex (TSE:CGX) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Cineplex Inc. (TSE:CGX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.76 and traded as high as C$11.67. Cineplex shares last traded at C$11.41, with a volume of 186,078 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CGX shares. Canaccord Genuity Group raised their target price on Cineplex from C$10.50 to C$11.50 and gave the stock a “hold” rating in a report on Tuesday, May 12th. National Bank Financial lowered their price target on Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Cineplex currently has an average rating of “Moderate Buy” and an average price target of C$13.46.

Cineplex Trading Down 0.1%

The company’s fifty day simple moving average is C$11.37 and its two-hundred day simple moving average is C$10.77. The company has a market capitalization of C$739.66 million, a price-to-earnings ratio of -32.61, a price-to-earnings-growth ratio of 0.30 and a beta of 0.35. The company has a quick ratio of 0.22, a current ratio of 0.37 and a debt-to-equity ratio of -1,703.50.

Cineplex (TSE:CGX) last announced its quarterly 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 firm had revenue of C$290.98 million during the quarter. Research analysts forecast that Cineplex Inc. will post 1.0754912 earnings per share for the current fiscal 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.