Lionsgate Entertainment (NYSE:LION) Price Target Lowered to $8.00 at Morgan Stanley

Lionsgate Entertainment (NYSE:LION) had its price target lowered by Morgan Stanley from $8.50 to $8.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 21.77% from the company’s current price.

A number of other brokerages also recently issued reports on LION. Wall Street Zen upgraded Lionsgate Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Raymond James initiated coverage on Lionsgate Entertainment in a research report on Tuesday, May 20th. They set an “outperform” rating and a $10.00 target price on the stock. TD Cowen began coverage on shares of Lionsgate Entertainment in a research note on Monday, May 12th. They issued a “hold” rating and a $8.00 price target on the stock. Finally, JPMorgan Chase & Co. raised shares of Lionsgate Entertainment from an “underweight” rating to a “neutral” rating and raised their price target for the company from $8.00 to $9.00 in a research note on Monday, March 31st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lionsgate Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

Lionsgate Entertainment Stock Performance

NYSE LION traded down $0.03 during mid-day trading on Tuesday, reaching $6.57. 355,327 shares of the stock were exchanged, compared to its average volume of 1,931,171. The company has a market capitalization of $1.90 billion, a P/E ratio of -5.30, a P/E/G ratio of 13.47 and a beta of 1.07. The business’s 50 day moving average is $7.98 and its 200-day moving average is $8.38. Lionsgate Entertainment has a 1 year low of $6.47 and a 1 year high of $8.50.

Lionsgate Entertainment (NYSE:LION) last posted its earnings results on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Lionsgate Entertainment had a negative return on equity of 57.26% and a negative net margin of 7.34%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Equities analysts predict that Lionsgate Entertainment will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lionsgate Entertainment

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of Lionsgate Entertainment during the 1st quarter valued at about $825,000. Goldman Sachs Group Inc. raised its stake in shares of Lionsgate Entertainment by 198.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock valued at $3,099,000 after acquiring an additional 275,839 shares during the period. Nexpoint Asset Management L.P. lifted its stake in Lionsgate Entertainment by 11.8% during the first quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company’s stock worth $660,000 after purchasing an additional 9,300 shares in the last quarter. Millennium Management LLC grew its position in Lionsgate Entertainment by 72.6% in the 1st quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock valued at $14,877,000 after acquiring an additional 837,774 shares in the last quarter. Finally, Alpine Global Management LLC lifted its holdings in Lionsgate Entertainment by 570.9% during the 1st quarter. Alpine Global Management LLC now owns 221,753 shares of the company’s stock worth $1,656,000 after buying an additional 188,700 shares in the last quarter. Hedge funds and other institutional investors own 34.05% of the company’s stock.

About Lionsgate Entertainment

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.