Cineplex (TSE:CGX) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Cineplex Inc. (TSE:CGX) has recently crossed above its 200-day moving average of C$10.74, with shares trading as high as C$12.45.
• After recent analyst reviews, Scotiabank upgraded Cineplex's target price to C$12.75 while Canaccord Genuity downgraded it from "strong-buy" to "hold," resulting in a consensus price target of C$12.65.
• Cineplex has a market capitalization of C$788.56 million, a P/E ratio of -13.08, and reported a notably high debt-to-equity ratio of -4,623.78.

Cineplex Inc. (TSE:CGX - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.74 and traded as high as C$12.45. Cineplex shares last traded at C$12.43, with a volume of 363,399 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Scotiabank boosted their target price on Cineplex from C$12.00 to C$12.75 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Canaccord Genuity Group cut Cineplex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Cineplex has an average rating of "Moderate Buy" and a consensus price target of C$12.65.

Cineplex Price Performance

The company has a fifty day moving average of C$11.36 and a 200 day moving average of C$10.74. The firm has a market capitalization of C$788.56 million, a P/E ratio of -13.08, a PEG ratio of 0.30 and a beta of 0.49. 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.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.