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Lions Gate Entertainment Corp. (NYSE:LGF) saw unusually-strong trading volume on Thursday following a better than expected earnings announcement, StockRatingsNetwork.com reports. Approximately 2,190,016 shares traded hands during mid-day trading, an increase of 47% from the previous session’s volume of 1,485,360 shares.The stock last traded at $29.67 and had previously closed at $28.78.

The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.02. The company had revenue of $721.90 million for the quarter, compared to the consensus estimate of $843.36 million. During the same quarter last year, the company posted $0.66 earnings per share. Lions Gate Entertainment Corp.’s revenue was down 8.1% compared to the same quarter last year.

Several analysts have recently commented on the stock. Analysts at B. Riley cut their price target on shares of Lions Gate Entertainment Corp. from $40.00 to $38.00 in a research note on Monday, April 21st. They now have a “buy” rating on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Lions Gate Entertainment Corp. from $36.00 to $28.00 in a research note on Monday, March 31st. Finally, analysts at Wunderlich raised their price target on shares of Lions Gate Entertainment Corp. from $40.00 to $43.00 in a research note on Wednesday, March 12th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Lions Gate Entertainment Corp. presently has an average rating of “Buy” and an average price target of $36.21.

The stock has a 50-day moving average of $26.66 and a 200-day moving average of $29.60. The company has a market cap of $4.076 billion and a P/E ratio of 16.73. Lions Gate Entertainment Corp. also was the target of some unusual options trading activity on Thursday. Stock traders bought 11,039 call options on the stock. This represents an increase of 378% compared to the average volume of 2,311 call options.

Lions Gate Entertainment Corp. (NYSE:LGF) is a global entertainment company with a diversified presence in motion picture production and distribution, television programming and syndication, home entertainment, family entertainment, digital distribution, new channel platforms and international distribution and sales.

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