Liberty Media Corp Shares Gap Up After Analyst Upgrade (LMCA)
Liberty Media Corp (NASDAQ:LMCA)’s share price gapped up prior to trading on Wednesday after Pivotal Research raised their price target on the stock from $166.00 to $185.00, Stock Ratings Network reports. The stock had previously closed at $137.55, but opened at $138.20. Liberty Media Corp shares last traded at $140.02, with a volume of 769,379 shares traded.
A number of other firms have also recently commented on LMCA. Analysts at Telsey Advisory Group initiated coverage on shares of Liberty Media Corp in a research note on Wednesday, July 9th. They set a “not rated” rating and a $160.00 price target on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Liberty Media Corp in a research note on Monday, July 7th. They now have a $172.00 price target on the stock, up previously from $165.00. Finally, analysts at Morgan Stanley upgraded shares of Liberty Media Corp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 2nd. They now have a $158.00 price target on the stock. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $161.37.
The stock’s 50-day moving average is $133.2 and its 200-day moving average is $132.4. The company has a market cap of $16.091 billion and a price-to-earnings ratio of 22.02. Liberty Media Corp also saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 1,370,732 shares, a drop of 27.2% from the June 13th total of 1,882,386 shares. Based on an average trading volume of 706,406 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.4% of the company’s shares are sold short.
Liberty Media Corp (NASDAQ:LMCA) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.63. Analysts expect that Liberty Media Corp will post $2.37 EPS for the current fiscal year.
Liberty Media Corporation, formerly Liberty Spinco, Inc, incorporated on August 10, 2012, focuses on the media, communications and entertainment industries through its ownership of interests in subsidiaries and other companies.
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