Cineplex (TSE:CGX) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• Cineplex shares crossed above their 200-day moving average, reaching C$12.49 before closing at C$12.42, compared with the C$11.32 average.
• Analysts have become more bullish, with several firms raising price targets to C$13.50–C$14.00. The stock carries a consensus “Buy” rating and an average target of C$13.83.
• Cineplex reported quarterly revenue of C$383.72 million and earnings of C$0.12 per share, while maintaining a negative net margin of 0.96%.

Cineplex Inc. (TSE:CGX - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.32 and traded as high as C$12.49. Cineplex shares last traded at C$12.42, with a volume of 234,202 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. National Bank Financial increased their target price on shares of Cineplex from C$13.50 to C$14.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. TD Securities raised shares of Cineplex to a "strong-buy" rating in a research note on Friday, July 24th. Scotiabank upped their price target on shares of Cineplex from C$12.00 to C$13.50 and gave the company a "sector outperform" rating in a research report on Wednesday, August 12th. Royal Bank Of Canada raised their price objective on Cineplex from C$13.00 to C$14.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group lifted their price objective on Cineplex from C$10.50 to C$11.50 and gave the stock a "hold" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$13.83.

Cineplex Stock Performance

The company has a debt-to-equity ratio of -1,865.57, a current ratio of 0.44 and a quick ratio of 0.22. The stock has a market cap of C$782.50 million, a PE ratio of -62.10, a price-to-earnings-growth ratio of 0.30 and a beta of 0.36. The business has a 50 day moving average price of C$12.15 and a two-hundred day moving average price of C$11.32.

Cineplex (TSE:CGX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported C$0.12 EPS for the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. The company had revenue of C$383.72 million for the quarter. As a group, equities research analysts forecast that Cineplex Inc. will post 1.0754912 EPS for the current fiscal year.

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. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.

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