RealD Trading 8.3% Higher After Strong Earnings (RLD)
RealD (NYSE:RLD) shares traded up 8.3% during mid-day trading on Thursday after the company announced better than expected quarterly earnings, Stock Ratings Network.com reports. The company traded as high as $12.69 and last traded at $12.67, with a volume of 956,989 shares. The stock had previously closed at $11.70.
The company reported ($0.10) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.23) by $0.13. The company had revenue of $40.60 million for the quarter, compared to the consensus estimate of $33.73 million. During the same quarter last year, the company posted ($0.09) earnings per share. RealD’s revenue was down 10.6% compared to the same quarter last year.
Separately, analysts at Zacks upgraded shares of RealD from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 3rd. They now have a $12.20 price target on the stock. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $11.73.
The stock’s 50-day moving average is $11.31 and its 200-day moving average is $10.07. The company’s market cap is $631.1 million.
RealD Inc is a licensor of three dimensional (NYSE:RLD) technologies.
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