Cineplex (TSE:CGX) Stock Breaks Above 200-Day Moving Average – What’s Next?

Shares of 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$11.70 and traded as high as C$12.41. Cineplex shares last traded at C$12.35, with a volume of 88,279 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Cineplex from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Tuesday, September 15th. TD Securities raised shares of Cineplex to a “strong-buy” rating in a report on Friday, July 24th. Scotiabank raised their price objective on shares of Cineplex from C$12.00 to C$13.50 and gave the company a “sector outperform” rating in a research report on Wednesday, August 12th. Finally, National Bank Financial lifted their price objective on shares of Cineplex from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$14.00.

Cineplex Stock Up 1.1%

The company has a market cap of C$786.28 million, a PE ratio of -62.40, a PEG ratio of 0.30 and a beta of 0.35. The stock’s 50 day moving average price is C$12.45 and its 200-day moving average price is C$11.71. The company has a debt-to-equity ratio of -1,865.57, a quick ratio of 0.22 and a current ratio of 0.44.

Cineplex (TSE:CGX) last issued its earnings results on Tuesday, August 11th. The company reported C$0.12 EPS for the quarter. The company had revenue of C$383.72 million for the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. On average, analysts predict that Cineplex Inc. will post 1.08 earnings per share for the current year.

About Cineplex

Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 169 movie theatres and location-based entertainment venues. In addition to being Canada’s largest and most innovative film exhibitor, the company operates Canada’s favourite destination for ‘Eats & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion).