Cineplex (TSE:CGX) Stock Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Cineplex Inc. shares have recently surpassed their 200-day moving average, trading as high as C$11.03, and currently at C$10.92.
• Research analysts have adjusted their price targets for Cineplex, with Canaccord Genuity lowering their target to C$11.00, while Royal Bank of Canada raised theirs to C$14.00; the average target price is now C$18.79.
• The company's current market capitalization is C$716.77 million, and it has a P/E ratio of -19.10.

Cineplex Inc. (TSE:CGX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.63 and traded as high as C$11.03. Cineplex shares last traded at C$10.92, with a volume of 365,289 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CGX shares. Canaccord Genuity Group dropped their price objective on shares of Cineplex from C$14.00 to C$11.00 in a research note on Thursday, April 10th. National Bankshares dropped their price objective on shares of Cineplex from C$15.00 to C$13.50 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank Of Canada increased their price objective on shares of Cineplex from C$13.00 to C$14.00 in a research note on Monday, May 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$18.79.

Cineplex Trading Down 2.4%

The business's fifty day simple moving average is C$11.35 and its 200 day simple moving average is C$10.60. The company has a current ratio of 0.43, a quick ratio of 0.22 and a debt-to-equity ratio of -4,623.78. The stock has a market cap of C$699.72 million, a P/E ratio of -18.64, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74.

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.