Cineplex (TSE:CGX) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

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.

Cineplex Inc. (TSE:CGX - Get Free Report)'s stock price passed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Scotiabank lifted their price objective on Cineplex from C$12.00 to C$12.75 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada lifted their price objective on Cineplex from C$13.00 to C$14.00 in a research report on Monday, May 12th. Finally, Canaccord Genuity Group downgraded Cineplex from a "strong-buy" rating to a "hold" rating in a research 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's stock. According to data from MarketBeat, Cineplex has an average rating of "Moderate Buy" and a consensus price target of C$12.65.

Cineplex Stock Performance

The stock has a 50-day simple moving average of C$11.13 and a 200-day simple moving average of C$10.55. 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 stock has a market cap of C$676.99 million, a PE ratio of -18.04, a P/E/G ratio of 0.30 and a beta of 2.74.

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.

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