Cineplex (TSE:CGX) Shares Pass Above 200-Day Moving Average - What's Next?

Key Points

• Cineplex's share price has recently crossed above its 200-day moving average, reaching C$12.10, with the last traded price at C$11.91.
• Analysts have updated their ratings, with Scotiabank raising its price target to C$12.75, while Canaccord Genuity has downgraded the stock from "strong-buy" to "hold."
• The stock has a current market capitalization of C$755.57 million and is rated as a "Moderate Buy" based on consensus among analysts.

Shares of Cineplex Inc. (TSE:CGX - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.66 and traded as high as C$12.10. Cineplex shares last traded at C$11.91, with a volume of 241,057 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CGX. Canaccord Genuity Group cut Cineplex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Scotiabank lifted their price objective on Cineplex from C$12.00 to C$12.75 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$12.65.

Cineplex Stock Up 1.3%

The company has a debt-to-equity ratio of -4,623.78, a current ratio of 0.43 and a quick ratio of 0.22. The firm has a 50-day simple moving average of C$11.31 and a two-hundred day simple moving average of C$10.69. The company has a market cap of C$761.91 million, a PE ratio of -12.64, a P/E/G ratio of 0.30 and a beta of 0.49.

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.