Cineplex (TSE:CGX) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Cineplex's stock price has recently passed above its 200-day moving average, reaching C$11.10 in trading, while the last recorded price was C$10.72.
• Wall Street analysts hold a generally positive outlook on Cineplex, with two analysts rating it as a Buy and a consensus price target of C$12.65.
• The company operates in multiple segments, including film entertainment and media, and has a market capitalization of C$676.99 million.

Shares of Cineplex Inc. (TSE:CGX - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.55 and traded as high as C$11.10. Cineplex shares last traded at C$10.72, with a volume of 877,096 shares.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CGX shares. Royal Bank Of Canada boosted their price objective on shares of Cineplex from C$13.00 to C$14.00 in a report on Monday, May 12th. Scotiabank boosted their price objective on shares of Cineplex from C$12.00 to C$12.75 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Finally, Canaccord Genuity Group downgraded shares of Cineplex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Cineplex currently has a consensus rating of "Moderate Buy" and an average target price of C$12.65.

Cineplex Trading Down 0.7%

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 company has a market cap of C$736.98 million, a price-to-earnings ratio of -19.64, a PEG ratio of 0.30 and a beta of 2.74. The business's 50-day simple moving average is C$11.13 and its 200-day simple moving average is C$10.57.

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.