Ascendiant Capital Markets reiterated their buy rating on shares of DreamWorks Animation SKG (NYSE:DWA) in a research report released on Thursday morning, American Banking News reports. Ascendiant Capital Markets currently has a $38.00 price objective on the stock, up from their previous price objective of $32.00.
“DVD sales and rental data indicate that the company’s titles have performed strongly in home entertainment and we believe the 2014 theatrical slate looks solid. We are therefore raising our price target on DWA shares from $32 to $38, which equates to an EV/2013E EBITDA multiple of 13X.,” Ascendiant Capital Markets’ analyst commented.
Other equities research analysts have also recently issued reports about the stock. Analysts at McLean Capital Management downgraded shares of DreamWorks Animation SKG from a neutral rating to a sell rating in a research note to investors on Friday, October 11th. Separately, analysts at Morgan Stanley reiterated an underweight rating on shares of DreamWorks Animation SKG in a research note to investors on Wednesday, September 25th. They now have a $26.00 price target on the stock, up previously from $22.00. Finally, analysts at B. Riley downgraded shares of DreamWorks Animation SKG from a buy rating to a neutral rating in a research note to investors on Monday, September 23rd. They now have a $0.96 price target on the stock, up previously from $0.70. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $19.90.
DreamWorks Animation SKG (NYSE:DWA) traded up 1.64% on Thursday, hitting $34.04. The stock had a trading volume of 202,353 shares. DreamWorks Animation SKG has a 1-year low of $15.90 and a 1-year high of $35.23. The stock has a 50-day moving average of $31.31 and a 200-day moving average of $27.48. The company’s market cap is $2.852 billion.
DreamWorks Animation SKG (NYSE:DWA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.02 by $0.10. The company had revenue of $154.50 million for the quarter, compared to the consensus estimate of $143.90 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 17.1% on a year-over-year basis. On average, analysts predict that DreamWorks Animation SKG will post $0.80 earnings per share for the current fiscal year.
DreamWorks Animation SKG, Inc (NYSE:DWA) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets.
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