Cineplex (TSE:CGX) Shares Cross Above 200 Day Moving Average – What’s Next?

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$8.90 and traded as high as C$10.49. Cineplex shares last traded at C$10.42, with a volume of 98,890 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CGX. Scotiabank lifted their price target on Cineplex from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Canaccord Genuity Group decreased their price target on shares of Cineplex from C$12.00 to C$11.50 in a research note on Wednesday, September 25th. Royal Bank of Canada lowered their price objective on shares of Cineplex from C$14.00 to C$13.00 in a report on Wednesday, July 24th. Desjardins increased their target price on shares of Cineplex from C$52.00 to C$53.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, TD Securities boosted their price target on shares of Cineplex from C$14.00 to C$16.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$18.64.

Cineplex Trading Down 0.2 %

The company has a market capitalization of C$662.27 million, a PE ratio of -9.29, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74. The company has a quick ratio of 0.22, a current ratio of 0.36 and a debt-to-equity ratio of 30,533.69. The stock’s fifty day moving average price is C$10.43 and its two-hundred day moving average price is C$8.91.

Cineplex (TSE:CGX) last posted its earnings results on Friday, August 9th. The company reported C($0.33) earnings per share (EPS) for the quarter. The firm had revenue of C$277.34 million during the quarter, compared to analysts’ expectations of C$283.90 million. Sell-side analysts anticipate that Cineplex Inc. will post 1.0754912 earnings per share for the current year.

About Cineplex

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.