Lions Gate Entertainment Corp. (LGF) Stock Price Down 3%
Lions Gate Entertainment Corp. (NYSE:LGF)’s share price fell 3% during mid-day trading on Friday . The stock traded as low as $21.33 and last traded at $21.36, with a volume of 1,891,962 shares changing hands. The stock had previously closed at $22.01.
Several research firms have recently issued reports on LGF. Argus restated a “buy” rating on shares of Lions Gate Entertainment Corp. in a report on Saturday, May 14th. B. Riley reiterated a “buy” rating and issued a $30.00 price target on shares of Lions Gate Entertainment Corp. in a report on Monday, May 9th. Vetr downgraded shares of Lions Gate Entertainment Corp. from a “strong-buy” rating to a “buy” rating and set a $24.26 price target on the stock. in a report on Wednesday, June 15th. FBR & Co reiterated an “outperform” rating and issued a $23.00 price target on shares of Lions Gate Entertainment Corp. in a report on Thursday, May 26th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $27.00 price target on shares of Lions Gate Entertainment Corp. in a report on Thursday, June 9th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Lions Gate Entertainment Corp. has an average rating of “Buy” and a consensus target price of $29.90.
The stock has a market cap of $3.15 billion and a P/E ratio of 300.14. The firm’s 50-day moving average price is $20.15 and its 200 day moving average price is $21.21.
Lions Gate Entertainment Corp. (NYSE:LGF) last released its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.36. During the same period in the previous year, the firm posted $0.31 EPS. The company earned $553.60 million during the quarter, compared to analyst estimates of $494.34 million. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. Equities research analysts forecast that Lions Gate Entertainment Corp. will post $0.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Thursday, June 30th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Tuesday, June 28th.
In related news, Director Gordon Crawford bought 50,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were acquired at an average price of $21.70 per share, with a total value of $1,085,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and institutional investors have made changes to their positions in LGF. Employees Retirement System of Texas acquired a new position in shares of Lions Gate Entertainment Corp. during the fourth quarter worth $1,879,000. Wells Fargo & Company MN raised its position in shares of Lions Gate Entertainment Corp. by 7.3% in the fourth quarter. Wells Fargo & Company MN now owns 741,944 shares of the company’s stock worth $24,031,000 after buying an additional 50,308 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in shares of Lions Gate Entertainment Corp. by 3.4% in the fourth quarter. I.G. Investment Management LTD. now owns 96,582 shares of the company’s stock worth $3,128,000 after buying an additional 3,176 shares in the last quarter.
Lions Gate Entertainment Corp. is engaged in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, channel platforms and international distribution and sales. The Company operates through two segments: Motion Pictures and Television Production.
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