DreamWorks Animation SKG Stock Price Down 12% Following Analyst Downgrade (DWA)
DreamWorks Animation SKG (NYSE:DWA) shares dropped 12% during trading on Wednesday after B. Riley lowered their price target on the stock from $33.50 to $32.00, AmericanBankingNews.com reports. B. Riley currently has a neutral rating on the stock. DreamWorks Animation SKG traded as low as $30.01 and last traded at $30.98, with a volume of 5,965,513 shares. The stock had previously closed at $35.20.
DWA has been the subject of a number of other recent research reports. Analysts at Piper Jaffray downgraded shares of DreamWorks Animation SKG from a “neutral” rating to an “underweight” rating in a research note on Wednesday. They now have a $19.00 price target on the stock. Separately, analysts at Zacks upgraded shares of DreamWorks Animation SKG from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 2nd. They now have a $38.70 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of DreamWorks Animation SKG in a research note on Monday, December 30th. They now have a $31.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. DreamWorks Animation SKG currently has an average rating of “Hold” and a consensus target price of $25.12.
The stock’s 50-day moving average is $33.72 and its 200-day moving average is $31.44. The company’s market cap is $2.590 billion.
DreamWorks Animation SKG (NYSE:DWA) last announced its earnings results on Tuesday, February 25th. The company reported $0.33 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.33. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $236.77 million. On average, analysts predict that DreamWorks Animation SKG will post $0.91 earnings per share for the current fiscal year.
DreamWorks Animation SKG, Inc (NYSE:DWA) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets.
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