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

Shares of Cineplex Inc. (TSE:CGX) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.96 and traded as high as C$12.81. Cineplex shares last traded at C$12.75, with a volume of 158,497 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CGX. National Bank Financial decreased their target price on shares of Cineplex from C$14.00 to C$13.50 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. TD Securities upgraded Cineplex to a “strong-buy” rating in a report on Friday, July 24th. Finally, 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. One investment 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$13.46.

Cineplex Stock Performance

The firm has a market cap of C$803.29 million, a price-to-earnings ratio of -35.42, a price-to-earnings-growth ratio of 0.30 and a beta of 0.36. The company has a current ratio of 0.37, a quick ratio of 0.22 and a debt-to-equity ratio of -1,703.50. The stock has a fifty day moving average price of C$11.83 and a 200 day moving average price of C$10.96.

Cineplex (TSE:CGX) last issued its quarterly earnings data on Monday, May 11th. The company reported C($0.36) earnings per share for the quarter. The firm had revenue of C$290.98 million during the quarter. Cineplex had a positive return on equity of 27.72% and a negative net margin of 1.72%. As a group, analysts predict that Cineplex Inc. will post 1.0754912 earnings per share for the current 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.