Cineplex (TSE:CGX) Shares Down 6.5% – Time to Sell?

Cineplex Inc. (TSE:CGX) shares traded down 6.5% on Monday . The company traded as low as C$10.79 and last traded at C$11.03. 124,441 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 286,372 shares. The stock had previously closed at C$11.80.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CGX shares. Royal Bank Of Canada lowered their target price on Cineplex from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 3rd. TD Securities lowered their target price on Cineplex from C$17.00 to C$16.00 and set a “buy” rating on the stock in a research note on Friday, January 16th. Canaccord Genuity Group lifted their target price on Cineplex from C$10.50 to C$11.50 and gave the company a “hold” rating in a research note on Tuesday. Finally, National Bank Financial lowered their target price on Cineplex from C$14.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$13.46.

Cineplex Trading Down 1.0%

The company has a market cap of C$684.16 million, a PE ratio of -18.59, a PEG ratio of 0.30 and a beta of 0.11. The company has a debt-to-equity ratio of -986.20, a quick ratio of 0.22 and a current ratio of 0.37. The company has a 50 day simple moving average of C$10.78 and a two-hundred day simple moving average of C$10.89.

Cineplex (TSE:CGX) last announced its quarterly earnings results on Monday, May 11th. The company reported C($0.36) earnings per share (EPS) for the quarter. The firm had revenue of C$290.98 million for the quarter. Cineplex had a negative net margin of 1.72% and a positive return on equity of 27.72%. Sell-side analysts forecast that Cineplex Inc. will post 1.0754912 EPS for the current year.

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. The media segment includes cinema media and digital place-based media operations. The amusement and leisure reporting segment manages the operation and distribution of gaming and vending equipment. Formerly housed in the amusement and leisure segment, the location-based entertainment business derives revenue from entertainment restaurant chains like The Rec Room and Playdium.