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Stock analysts at Morgan Stanley lowered their price objective on shares of Dreamworks Animation Skg (NYSE:DWA) to $24.00 in a report issued on Monday. Morgan Stanley’s target price suggests a potential upside of 3.23% from the stock’s previous close.

Dreamworks Animation Skg (NYSE:DWA) traded down 1.33% during mid-day trading on Monday, hitting $22.94. The stock had a trading volume of 1,240,245 shares. Dreamworks Animation Skg has a 1-year low of $21.84 and a 1-year high of $36.01. The stock has a 50-day moving average of $23.9 and a 200-day moving average of $27.85. The company has a market cap of $1.942 billion and a P/E ratio of 310.00.

Dreamworks Animation Skg (NYSE:DWA) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.51) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.10) by $0.41. The company had revenue of $147.20 million for the quarter, compared to the consensus estimate of $133.95 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts expect that Dreamworks Animation Skg will post $0.12 EPS for the current fiscal year.

A number of other firms have also recently commented on DWA. Analysts at Ascendiant Capital Markets downgraded shares of Dreamworks Animation Skg from a “buy” rating to a “hold” rating in a research note on Monday, July 21st. Separately, analysts at B. Riley downgraded shares of Dreamworks Animation Skg from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. They now have a $25.00 price target on the stock, down previously from $32.00. They noted that the move was a valuation call. Finally, analysts at Wells Fargo & Co. raised their price target on shares of Dreamworks Animation Skg from $19.00 to $22.00 in a research note on Monday, June 30th. They now have a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $23.29.

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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