Cineplex (TSE:CGX) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Cineplex shares rose above their 200-day moving average, reaching C$12.69 and closing at C$12.47, compared with the C$11.10 average.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of C$13.83. National Bank Financial and RBC raised their targets to C$14.00, while TD Securities upgraded the stock to “strong buy.”
• Cineplex reported quarterly revenue of C$383.72 million and earnings of C$0.12 per share, but continues to show a negative net margin and weak liquidity ratios, including a 0.22 quick ratio.

Cineplex Inc. (TSE:CGX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$11.10 and traded as high as C$12.69. Cineplex shares last traded at C$12.47, with a volume of 279,069 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. National Bank Financial raised their price objective on shares of Cineplex from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Scotiabank upped their target price on shares of Cineplex from C$12.00 to C$13.50 and gave the company a "sector outperform" rating in a report on Wednesday, August 12th. Royal Bank Of Canada increased their target price on shares of Cineplex from C$13.00 to C$14.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Canaccord Genuity Group raised their price target on Cineplex from C$10.50 to C$11.50 and gave the stock a "hold" rating in a report on Tuesday, May 12th. Finally, TD Securities upgraded Cineplex to a "strong-buy" rating in a research report on Friday, July 24th. 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 company's stock. According to MarketBeat.com, Cineplex presently has a consensus rating of "Buy" and an average target price of C$13.83.

Cineplex Trading Down 0.3%

The business's 50-day moving average is C$12.01 and its two-hundred day moving average is C$11.10. 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. The stock has a market capitalization of C$785.65 million, a PE ratio of -62.35, a price-to-earnings-growth ratio of 0.30 and a beta of 0.36.

Cineplex (TSE:CGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.12 EPS for the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. The company had revenue of C$383.72 million during the quarter. As a group, equities research analysts anticipate that Cineplex Inc. will post 1.0754912 earnings per share for the current 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.

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