Cineplex (TSE:CGX) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Cineplex Inc.'s stock price has crossed above its 200-day moving average of C$10.61, reaching a high of C$12.25 during trading.
• Analysts have mixed views on the stock; Canaccord Genuity downgraded it to "hold," while Scotiabank increased the target price to C$12.75, giving it an "outperform" rating.
• The company holds a debt-to-equity ratio of -4,623.78, indicating significant leverage issues, and has a market capitalization of approximately C$760.65 million.

Cineplex Inc. (TSE:CGX - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.61 and traded as high as C$12.25. Cineplex shares last traded at C$11.99, with a volume of 365,784 shares changing hands.

Analysts Set New Price Targets

Several research firms have issued reports on CGX. Canaccord Genuity Group downgraded shares of Cineplex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Scotiabank increased their price objective on shares of Cineplex from C$12.00 to C$12.75 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$12.65.

Cineplex Price Performance

The stock's 50-day moving average price is C$11.25 and its 200 day moving average price is C$10.64. The firm has a market capitalization of C$760.01 million, a price-to-earnings ratio of -12.61, a PEG ratio of 0.30 and a beta of 0.49. The company has a quick ratio of 0.22, a current ratio of 0.43 and a debt-to-equity ratio of -4,623.78.

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.