Cineplex (TSE:CGX) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Cineplex Inc. (TSE:CGX)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$11.00 and traded as high as C$12.22. Cineplex shares last traded at C$12.11, with a volume of 452,738 shares traded.

Analysts Set New Price Targets

CGX has been the subject of several analyst reports. Scotiabank increased their price objective 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. Canaccord Genuity Group raised their price target on Cineplex from C$11.00 to C$13.00 in a research report on Friday, October 17th. BMO Capital Markets raised their price target on Cineplex from C$13.00 to C$14.00 in a research report on Friday, October 17th. Finally, National Bankshares lowered their price target on Cineplex from C$13.50 to C$13.00 and set an “outperform” rating for the company in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$13.35.

Cineplex Stock Performance

The company has a debt-to-equity ratio of -4,623.78, a current ratio of 0.43 and a quick ratio of 0.22. The firm has a market capitalization of C$768.26 million, a price-to-earnings ratio of -12.75, a PEG ratio of 0.30 and a beta of 0.51. The firm has a 50 day moving average price of C$11.64 and a 200-day moving average price of C$11.00.

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.