Cineplex (TSE:CGX) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.12 and traded as high as C$10.44. Cineplex shares last traded at C$10.37, with a volume of 137,691 shares.

Analysts Set New Price Targets

CGX has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Cineplex from C$11.50 to C$12.00 in a research note on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of Cineplex from C$14.00 to C$13.00 in a research note on Wednesday, July 24th. Desjardins boosted their target price on shares of Cineplex from C$52.00 to C$53.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Scotiabank raised their target price on Cineplex from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Finally, TD Securities lifted their price target on Cineplex from C$14.00 to C$16.00 and gave the company a “buy” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$18.71.

Cineplex Trading Down 0.7 %

The firm has a market capitalization of C$648.26 million, a P/E ratio of -9.09, a P/E/G ratio of 0.30 and a beta of 2.74. The company has a current ratio of 0.36, a quick ratio of 0.22 and a debt-to-equity ratio of 30,533.69. The company’s fifty day moving average is C$10.59 and its 200-day moving average is C$9.16.

Cineplex (TSE:CGX) last posted its quarterly earnings data on Friday, August 9th. The company reported C($0.33) earnings per share for the quarter. The company had revenue of C$277.34 million during the quarter, compared to analyst estimates of C$283.90 million. As a group, sell-side analysts anticipate that Cineplex Inc. will post 1.0754912 earnings per share for the current fiscal year.

Cineplex Company Profile

Cineplex Inc, together with its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Location-Based Entertainment. The company engages in theatre exhibitions and food service activities; and provision of alternative programming service comprising international film programming, as well as content offered under the Event Cinema brand, including The Metropolitan Opera, sporting events, concerts, and dedicated event screens.