Cineplex (TSE:CGX) Hits New 1-Year High – Here’s Why

Shares of Cineplex Inc. (TSE:CGX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$11.17 and last traded at C$11.15, with a volume of 152822 shares trading hands. The stock had previously closed at C$10.91.

Analyst Ratings Changes

Several research firms have commented on CGX. Canaccord Genuity Group lifted their target price on shares of Cineplex from C$11.50 to C$12.00 in a research report on Thursday, October 17th. TD Securities lifted their target price on shares of Cineplex from C$14.00 to C$16.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Scotiabank lifted their price target on shares of Cineplex from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$18.71.

Cineplex Price Performance

The business’s 50-day moving average price is C$10.42 and its 200 day moving average price is C$9.46. The stock has a market capitalization of C$718.95 million, a PE ratio of -10.01, a price-to-earnings-growth ratio of 0.30 and a beta of 2.74. The company has a debt-to-equity ratio of 30,533.69, a quick ratio of 0.22 and a current ratio of 0.36.

Insider Activity

In related news, Director Ellis Jacob sold 29,874 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of C$10.02, for a total value of C$299,337.48. Company insiders own 1.85% of the company’s stock.

About Cineplex

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.