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

Key Points

• Cineplex shares rose above their 200-day moving average, reaching C$13.11 before closing at C$12.74, compared with a 200-day average of C$11.51.
• Analyst sentiment is broadly positive: Cineplex has an average “Buy” rating and a consensus price target of C$14.00, with several firms recently raising targets and ratings.
• The company reported quarterly revenue of C$383.72 million and earnings of C$0.12 per share, though its valuation and financial profile remain pressured by a negative P/E ratio, negative net margin, and weak liquidity ratios.

Cineplex Inc. (TSE:CGX - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$11.51 and traded as high as C$13.11. Cineplex shares last traded at C$12.74, with a volume of 696,241 shares changing hands.

Wall Street Analysts Forecast Growth

CGX has been the topic of a number of research reports. 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 raised shares of Cineplex to a "strong-buy" rating in a research report on Friday, July 24th. Royal Bank Of Canada boosted their price target on shares of Cineplex from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research note on Tuesday, September 15th. Finally, National Bank Financial upped their price objective on shares of Cineplex from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$14.00.

Cineplex Price Performance

The company has a debt-to-equity ratio of -1,865.57, a quick ratio of 0.22 and a current ratio of 0.44. The business has a 50 day simple moving average of C$12.32 and a 200-day simple moving average of C$11.51. The firm has a market cap of C$802.66 million, a price-to-earnings ratio of -63.70, a P/E/G ratio of 0.30 and a beta of 0.20.

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