Lionsgate Studios (NYSE:LION) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Lionsgate Studios from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with a $15.16 target price.
• LION shares opened at $12.46, down 3.0%, and remain below their 52-week high of $16.70 but above the 52-week low of $6.18.
• Lionsgate exceeded quarterly expectations, reporting $0.06 in earnings per share versus an expected loss of $0.08 and revenue of $776.6 million versus the $703.1 million estimate; several major institutional investors also recently initiated positions.

Lionsgate Studios (NYSE:LION - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday, Wall Street Zen reports.

LION has been the topic of several other reports. Citizens Jmp began coverage on Lionsgate Studios in a report on Monday, September 14th. They set a "market outperform" rating and a $18.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Lionsgate Studios in a report on Thursday, October 15th. B. Riley Financial decreased their price target on Lionsgate Studios from $17.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Zacks Research lowered Lionsgate Studios from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Finally, Citigroup assumed coverage on shares of Lionsgate Studios in a research note on Monday, September 14th. They set a "market outperform" rating on the stock. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Lionsgate Studios currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.16.

Lionsgate Studios Stock Down 3.0%

Shares of LION opened at $12.46 on Friday. The company has a 50 day moving average price of $11.43 and a 200-day moving average price of $11.60. Lionsgate Studios has a fifty-two week low of $6.18 and a fifty-two week high of $16.70.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.14. The company had revenue of $776.60 million for the quarter, compared to analysts' expectations of $703.10 million. As a group, sell-side analysts anticipate that Lionsgate Studios will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lionsgate Studios

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Lionsgate Studios during the second quarter worth approximately $251,521,000. Wellington Management Group LLP purchased a new stake in shares of Lionsgate Studios in the second quarter valued at approximately $113,683,000. Jefferies Financial Group Inc. purchased a new stake in shares of Lionsgate Studios in the second quarter valued at approximately $88,896,000. Coastal Bridge Advisors LLC acquired a new position in shares of Lionsgate Studios during the 2nd quarter worth approximately $83,144,000. Finally, Cooper Creek Partners Management LLC acquired a new position in shares of Lionsgate Studios during the 1st quarter worth approximately $43,715,000.

Lionsgate Studios Company Profile

Lionsgate Studios NYSE: LION is a global entertainment company focused on the development, production and distribution of motion pictures and television programming. Its operations include theatrical film releases, home entertainment, television licensing and distribution, and the sale of content to streaming platforms and other media outlets.

The company's film business includes established franchises such as The Hunger Games, John Wick, Twilight, Saw and Now You See Me, along with original feature films.

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