China Mobile Games & Entnmnt Grp Shares Up 7.6% Following Better-Than-Expected Earnings (CMGE)
China Mobile Games & Entnmnt Grp (NASDAQ:CMGE) shares shot up 7.6% on Wednesday following a better than expected earnings announcement, AnalystRatings.NET reports. The company traded as high as $16.87 and last traded at $16.10, with a volume of 940,099 shares trading hands. The stock had previously closed at $14.96.
The company reported $0.27 earnings per share (EPS) for the quarter, beating the 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. The company’s revenue for the quarter was up 281.4% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Barclays cut their price target on shares of China Mobile Games & Entnmnt Grp from $34.00 to $31.00 in a research note on Tuesday. 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’s 50-day moving average is $14.64 and its 200-day moving average is $21.3. The company has a market cap of $495.3 million and a price-to-earnings ratio of 31.90.
China Mobile Games and Entertainment Group Limited (NASDAQ:CMGE) is a holding company.
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