China Mobile Games & Entnmnt Grp Shares Down 2% Following Analyst Downgrade (CMGE)
China Mobile Games & Entnmnt Grp (NASDAQ:CMGE) dropped 2% during trading on Tuesday after Barclays lowered their price target on the stock from $34.00 to $31.00, AnalystRatingsNetwork.com reports. The company traded as low as $14.81 and last traded at $14.88, with a volume of 225,431 shares trading hands. The stock had previously closed at $15.19.
Separately, analysts at Brean Capital cut their price target on shares of China Mobile Games & Entnmnt Grp from $45.00 to $27.00 in a research note on Friday, May 23rd. They now have a “buy” rating on the stock.
The stock has a 50-day moving average of $14.67 and a 200-day moving average of $21.44. The company has a market cap of $462.1 million and a price-to-earnings ratio of 32.39.
China Mobile Games & Entnmnt Grp (NASDAQ:CMGE) last announced its earnings results on Monday, August 18th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.06. The company had revenue of $44.30 million for the quarter, compared to the consensus estimate of $43.60 million. China Mobile Games & Entnmnt Grp’s revenue was up 281.4% compared to the same quarter last year. Analysts expect that China Mobile Games & Entnmnt Grp will post $1.33 EPS for the current fiscal year.
China Mobile Games and Entertainment Group Limited (NASDAQ:CMGE) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.