Cineplex (TSE:CGX) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Cineplex shares crossed above their 200-day moving average of C$11.61, reaching C$12.77 before closing at C$12.50 on trading volume of 449,350 shares.
• Analysts have become more bullish, with several brokerages raising price targets and the consensus rating standing at “Buy” with an average target of C$14.00.
• Cineplex reported quarterly EPS of C$0.12 on revenue of C$383.72 million, although it posted a slightly negative net margin of 0.96%.

Shares of Cineplex Inc. (TSE:CGX - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$11.61 and traded as high as C$12.77. Cineplex shares last traded at C$12.50, with a volume of 449,350 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on CGX. National Bank Financial upped their target price on Cineplex from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Scotiabank upped their target price on Cineplex from C$12.00 to C$13.50 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 12th. TD Securities upgraded shares of Cineplex to a "strong-buy" rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Cineplex from C$14.00 to C$15.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Cineplex currently has a consensus rating of "Buy" and an average target price of C$14.00.

Cineplex Stock Performance

The company has a current ratio of 0.44, a quick ratio of 0.22 and a debt-to-equity ratio of -1,865.57. The stock has a market cap of C$787.54 million, a price-to-earnings ratio of -62.50, a P/E/G ratio of 0.30 and a beta of 0.20. The firm has a fifty day simple moving average of C$12.44 and a 200-day simple moving average of C$11.61.

Cineplex (TSE:CGX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.12 earnings per share (EPS) for the quarter. The firm had revenue of C$383.72 million for the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. Analysts forecast that Cineplex Inc. will post 1.0754912 EPS for the current fiscal year.

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. 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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