Lionsgate Studios (NYSE:LION) Stock Rated Underweight in New Coverage at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Lionsgate Studios with an Underweight rating and a $9 price target, implying roughly 18% downside from the stock’s $10.98 opening price.
• Analyst sentiment remains mixed: Lionsgate has a consensus “Moderate Buy” rating and an average $15.16 price target, despite JPMorgan’s bearish view.
• Lionsgate beat quarterly expectations, reporting $0.06 in EPS versus a projected $0.08 loss and revenue of $776.6 million versus estimates of $703.1 million; major institutional investors also recently acquired new positions.

JPMorgan Chase & Co. assumed coverage on shares of Lionsgate Studios (NYSE:LION - Get Free Report) in a research report issued to clients and investors on Friday, Briefing.com reports. The firm set an "underweight" rating and a $9.00 price target on the stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 18.03% from the stock's current price.

Other equities analysts have also issued research reports about the stock. B. Riley Financial dropped their target price on shares of Lionsgate Studios from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Citigroup initiated coverage on shares of Lionsgate Studios in a research report on Monday, September 14th. They issued a "market outperform" rating on the stock. Benchmark boosted their price objective on shares of Lionsgate Studios from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Robert W. Baird lifted their target price on Lionsgate Studios from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 17th. Finally, Seaport Research Partners restated a "buy" rating and set a $17.00 price target on shares of Lionsgate Studios in a research note on Friday, August 7th. Eight investment 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.16.

Lionsgate Studios Stock Down 1.5%

Shares of NYSE:LION opened at $10.98 on Friday. The firm has a fifty day moving average of $12.03 and a two-hundred day moving average of $12.32. Lionsgate Studios has a 12-month low of $5.88 and a 12-month high of $16.70. The firm has a market capitalization of $3.27 billion, a P/E ratio of -26.14 and a beta of 0.66.

Lionsgate Studios (NYSE:LION - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.14. The business had revenue of $776.60 million during the quarter, compared to analyst estimates of $703.10 million. Equities research analysts expect that Lionsgate Studios will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Lionsgate Studios during the 2nd quarter worth approximately $251,521,000. Wellington Management Group LLP acquired a new position in Lionsgate Studios in the second quarter valued at approximately $113,683,000. Jefferies Financial Group Inc. acquired a new position in Lionsgate Studios in the second quarter valued at approximately $88,896,000. Coastal Bridge Advisors LLC bought a new position in Lionsgate Studios in the second quarter valued at approximately $83,144,000. Finally, Jericho Capital Asset Management L.P. bought a new position in Lionsgate Studios in the fourth quarter valued at approximately $51,119,000.

About Lionsgate Studios

Lionsgate Studios Corp. NYSE: LION is an entertainment company focused on the development, production and distribution of motion pictures and television programming. Its studio operations include theatrical films, television series, home entertainment and digital distribution, as well as the licensing and monetization of a broad content library.

The company owns or distributes well-known film franchises such as The Hunger Games, John Wick, Saw, Twilight and Now You See Me.

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