Lions Gate Entertainment Corp. Trading 5.5% Higher After Better-Than-Expected Earnings (LGF)
Lions Gate Entertainment Corp. (NYSE:LGF)’s share price traded up 5.5% on Friday following a stronger than expected earnings report, AnalystRatings.NET reports. The company traded as high as $32.58 and last traded at $32.03, with a volume of 2,033,941 shares traded. The stock had previously closed at $30.35.
The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.17 by $0.13. The company had revenue of $449.40 million for the quarter, compared to the consensus estimate of $488.61 million. During the same quarter last year, the company posted $0.18 earnings per share. Lions Gate Entertainment Corp.’s revenue was down 21.1% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at FBR Capital Markets initiated coverage on shares of Lions Gate Entertainment Corp. in a research note on Monday, July 28th. They set an “outperform” rating and a $40.00 price target on the stock. Separately, analysts at B. Riley raised their price target on shares of Lions Gate Entertainment Corp. to $40.00 in a research note on Monday, July 21st. Finally, analysts at Barrington Research reiterated an “outperform” rating on shares of Lions Gate Entertainment Corp. in a research note on Monday, June 9th. Nine investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $36.17.
The stock has a 50-day moving average of $29.81 and a 200-day moving average of $28.95. The company has a market cap of $4.609 billion and a price-to-earnings ratio of 29.18.
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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