Brokers Issue Forecasts for Lions Gate Entertainment Corp.’s Q2 2017 Earnings (LGF)
Lions Gate Entertainment Corp. (NYSE:LGF) – Equities research analysts at Jefferies Group lowered their Q2 2017 earnings estimates for Lions Gate Entertainment Corp. in a report released on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings per share of ($0.28) for the quarter, down from their previous estimate of ($0.12). Jefferies Group has a “Buy” rating on the stock. Jefferies Group also issued estimates for Lions Gate Entertainment Corp.’s FY2017 earnings at $0.35 EPS.
A number of other equities research analysts also recently issued reports on the company. Sanford C. Bernstein downgraded Lions Gate Entertainment Corp. from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $34.00 to $22.00 in a research report on Wednesday, July 13th. KeyCorp restated an “overweight” rating and set a $24.00 price target (down previously from $27.00) on shares of Lions Gate Entertainment Corp. in a research report on Tuesday, July 5th. Stifel Nicolaus set a $22.00 price target on Lions Gate Entertainment Corp. and gave the company a “hold” rating in a research report on Monday, October 3rd. FBR & Co raised their price target on Lions Gate Entertainment Corp. from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, July 1st. Finally, Wunderlich lowered their price target on Lions Gate Entertainment Corp. from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.31.
Lions Gate Entertainment Corp. (NYSE:LGF) traded down 3.01% during midday trading on Thursday, hitting $18.69. The company’s stock had a trading volume of 4,258,551 shares. The company has a market cap of $2.76 billion, a PE ratio of 263.24 and a beta of 1.30. Lions Gate Entertainment Corp. has a 52-week low of $16.21 and a 52-week high of $41.41. The stock has a 50 day moving average of $20.62 and a 200 day moving average of $20.75.
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Lions Gate Entertainment Corp. (NYSE:LGF) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.36. Lions Gate Entertainment Corp. had a return on equity of 5.81% and a net margin of 0.43%. The firm had revenue of $553.60 million for the quarter, compared to analyst estimates of $494.34 million. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue was up 35.4% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in LGF. Amica Retiree Medical Trust acquired a new position in Lions Gate Entertainment Corp. during the second quarter valued at about $105,000. IFP Advisors Inc raised its position in Lions Gate Entertainment Corp. by 62.3% in the second quarter. IFP Advisors Inc now owns 5,243 shares of the company’s stock valued at $106,000 after buying an additional 2,013 shares during the last quarter. BlackRock Japan Co. Ltd acquired a new position in Lions Gate Entertainment Corp. during the first quarter valued at about $141,000. Advisor Group Inc. acquired a new position in Lions Gate Entertainment Corp. during the second quarter valued at about $147,000. Finally, Legal & General Group Plc raised its position in Lions Gate Entertainment Corp. by 3.9% in the second quarter. Legal & General Group Plc now owns 7,830 shares of the company’s stock valued at $159,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.
In other Lions Gate Entertainment Corp. news, Director Gordon Crawford bought 50,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was purchased at an average cost of $21.70 per share, for a total transaction of $1,085,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon Feltheimer sold 255,718 shares of Lions Gate Entertainment Corp. stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $20.25, for a total transaction of $5,178,289.50. The disclosure for this sale can be found here. Company insiders own 30.40% of the company’s stock.
Lions Gate Entertainment Corp. Company Profile
Lions Gate Entertainment Corp. is engaged in motion picture production and distribution, television programming and syndication, home entertainment, international distribution and sales, branded channel platforms, interactive ventures and games and location-based entertainment. The Company operates through two segments: Motion Pictures and Television Production.
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