Cineplex (TSE:CGX) Shares Cross Above 200 Day Moving Average of $24.41

Cineplex Inc (TSE:CGX)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.41 and traded as high as $25.76. Cineplex shares last traded at $25.70, with a volume of 58,384 shares trading hands.

A number of equities research analysts have recently issued reports on the stock. National Bank Financial boosted their target price on shares of Cineplex from C$28.00 to C$29.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. TD Securities reduced their target price on shares of Cineplex from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Raymond James set a C$31.00 target price on shares of Cineplex and gave the company an “outperform” rating in a research report on Tuesday, June 25th. CIBC boosted their target price on shares of Cineplex from C$27.50 to C$28.50 in a research report on Friday, August 9th. Finally, BMO Capital Markets cut their price objective on shares of Cineplex from C$30.00 to C$28.00 in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of C$30.75.

The company’s 50-day moving average is C$24.85 and its two-hundred day moving average is C$24.41. The company has a debt-to-equity ratio of 329.31, a current ratio of 0.45 and a quick ratio of 0.33. The firm has a market cap of $1.64 billion and a P/E ratio of 33.13.

Cineplex (TSE:CGX) last issued its earnings results on Thursday, August 8th. The company reported C$0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.31. The business had revenue of C$439.25 million for the quarter, compared to analyst estimates of C$428.90 million. On average, analysts expect that Cineplex Inc will post 0.9800001 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 30th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.97%. The ex-dividend date is Thursday, August 29th. Cineplex’s dividend payout ratio is currently 224.36%.

About Cineplex (TSE:CGX)

Cineplex Inc, through its subsidiaries, operates as an entertainment and media company in Canada and internationally. It operates through three segments: Film Entertainment and Content, Media, and Amusement and Leisure. The Film Entertainment and Content segment operates film theatres; and provides food and in-theatre amusement services, as well as rents theatre and digital commerce.

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