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

Key Points

• Cineplex shares rose above their 200-day moving average, reaching C$12.49 and last trading at C$12.44, compared with a 200-day average of C$11.42.
• Analysts have become more bullish, with several firms raising price targets to C$13.50–C$14.00. The stock has a consensus “Buy” rating and an average target of C$13.83.
• Cineplex reported C$383.72 million in quarterly revenue and earnings of C$0.12 per share, but it continues to show a negative net margin and weak liquidity ratios, including a 0.22 quick ratio.

Cineplex Inc. (TSE:CGX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$11.42 and traded as high as C$12.49. Cineplex shares last traded at C$12.44, with a volume of 327,930 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently commented on CGX. Royal Bank Of Canada upped their price target on Cineplex from C$13.00 to C$14.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. National Bank Financial lifted their price objective on Cineplex from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. TD Securities raised shares of Cineplex to a "strong-buy" rating in a report on Friday, July 24th. Finally, Scotiabank increased their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Cineplex has a consensus rating of "Buy" and an average price target of C$13.83.

Cineplex Stock Performance

The company has a quick ratio of 0.22, a current ratio of 0.44 and a debt-to-equity ratio of -1,865.57. The company's 50-day moving average is C$12.20 and its two-hundred day moving average is C$11.42. The company has a market capitalization of C$783.76 million, a P/E ratio of -62.20, a PEG ratio of 0.30 and a beta of 0.20.

Cineplex (TSE:CGX - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported C$0.12 earnings per share for the quarter. Cineplex had a negative net margin of 0.96% and a positive return on equity of 14.84%. The business had revenue of C$383.72 million for the quarter. Equities analysts anticipate that Cineplex Inc. will post 1.0754912 earnings per share 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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