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

Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$11.22 and traded as high as C$12.50. Cineplex shares last traded at C$12.23, with a volume of 351,929 shares.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Canaccord Genuity Group boosted their price target on Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada raised their price objective on shares of Cineplex from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. National Bank Financial lifted their price objective on shares of Cineplex from C$13.50 to C$14.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Scotiabank boosted their target price 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. Finally, TD Securities upgraded shares of Cineplex to a “strong-buy” rating in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$13.83.

Cineplex Stock Down 2.5%

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 firm has a market capitalization of C$751.00 million, a P/E ratio of -59.60, a P/E/G ratio of 0.30 and a beta of 0.36. The stock’s 50-day simple moving average is C$12.09 and its 200-day simple moving average is C$11.23.

Cineplex (TSE:CGX) last announced its earnings results on Tuesday, August 11th. The company reported C$0.12 earnings per share for the quarter. The firm had revenue of C$383.72 million for the quarter. Cineplex had a positive return on equity of 14.84% and a negative net margin of 0.96%. As a group, research analysts predict 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.