Cineplex (TSE:CGX) Shares Cross Above 200 Day Moving Average - Time to Sell?

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)'s stock price 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.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Scotiabank increased their price objective on Cineplex from C$12.00 to C$12.75 and gave the company an "outperform" rating in a report on Wednesday, August 13th. Canaccord Genuity Group downgraded Cineplex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$12.65.

Cineplex Stock Performance

The company has a debt-to-equity ratio of -4,623.78, a quick ratio of 0.22 and a current ratio of 0.43. The stock has a fifty day simple moving average of C$11.26 and a two-hundred day simple moving average of C$10.64. The stock has a market capitalization of C$770.80 million, a price-to-earnings ratio of -12.79, a P/E/G ratio of 0.30 and a beta of 0.49.

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.