Cineplex (TSE:CGX) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Cineplex Inc. (TSE:CGX) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$10.84 and traded as high as C$11.74. Cineplex shares last traded at C$11.57, with a volume of 227,998 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CGX shares. National Bankshares cut their price target on Cineplex from C$13.50 to C$13.00 and set an “outperform” rating on the stock in a research report on Tuesday. Canaccord Genuity Group lowered Cineplex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Scotiabank lifted their price target on Cineplex from C$12.00 to C$12.75 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.55.

Cineplex Stock Performance

The firm has a market cap of C$734.00 million, a price-to-earnings ratio of -12.18, a price-to-earnings-growth ratio of 0.30 and a beta of 0.49. The company has a quick ratio of 0.22, a current ratio of 0.43 and a debt-to-equity ratio of -4,623.78. The stock has a fifty day moving average price of C$11.45 and a 200-day moving average price of C$10.84.

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.