Cineplex (TSE:CGX) Shares Pass Above Two Hundred Day Moving Average of $8.16

Cineplex Inc. (TSE:CGX) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.16 and traded as high as C$9.00. Cineplex shares last traded at C$8.82, with a volume of 720,889 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CGX. National Bankshares cut their price target on shares of Cineplex from C$13.50 to C$12.50 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Canaccord Genuity Group cut their target price on shares of Cineplex from C$13.75 to C$13.00 and set a “buy” rating for the company in a research report on Friday, February 9th. BMO Capital Markets increased their target price on Cineplex from C$11.50 to C$12.50 and gave the company a “market perform” rating in a research note on Wednesday, March 6th. Scotiabank lifted their price target on Cineplex from C$11.00 to C$11.25 and gave the stock an “outperform” rating in a research note on Friday, March 8th. Finally, Royal Bank of Canada cut their price objective on Cineplex from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.88.

Cineplex Stock Performance

The company has a market cap of C$561.66 million, a P/E ratio of 4.90, a price-to-earnings-growth ratio of 0.30 and a beta of 2.88. The company’s fifty day moving average is C$7.76 and its 200 day moving average is C$8.16. The company has a current ratio of 0.55, a quick ratio of 0.22 and a debt-to-equity ratio of 7,933.30.

Cineplex (TSE:CGX) last posted its quarterly earnings results on Thursday, February 8th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$315.08 million for the quarter, compared to analyst estimates of C$359.50 million. As a group, equities analysts predict that Cineplex Inc. will post 0.5121951 earnings per share for the current fiscal year.

Insider Activity at Cineplex

In related news, Senior Officer Kevin David Watts purchased 3,200 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were acquired at an average cost of C$7.92 per share, with a total value of C$25,344.00. In other news, Senior Officer Kevin David Watts purchased 3,200 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was acquired at an average price of C$7.92 per share, with a total value of C$25,344.00. Also, Senior Officer Gordon Nelson purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was purchased at an average cost of C$7.47 per share, for a total transaction of C$74,700.00. Insiders purchased 14,500 shares of company stock worth $109,911 in the last ninety days. 1.52% of the stock is owned by company insiders.

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.