Zacks Investment Research Lowers Lions Gate Entertainment Co. Class A Voting Shares (LGF.A) to Sell

Zacks Investment Research downgraded shares of Lions Gate Entertainment Co. Class A Voting Shares (NASDAQ:LGF.A) from a hold rating to a sell rating in a research report report published on Monday, June 12th.

According to Zacks, “Lions Gate has underperformed the industry in the past one year. In the final quarter of fiscal 2017, the company’s earnings missed the estimate. Further, we noted that following the fourth-quarter results, estimate for both the first quarter and fiscal 2018 have witnessed downward revisions. The company’s EBITDA guidance for fiscal 2018 did not impress investors as it is expected to be at the lower end of the projected long-term growth range of low-to-mid teens. Moreover, fewer movie releases in fiscal 2018 compared with the previous year may hurt the company’s Motion Pictures revenues performance. However, in an effort to maximize return and build a diversified portfolio, the company has been making strategic investments and buyouts, such as that of Starz. The addition of Starz will aid it to become a major player in the TV space and help it to regain lost ground in streaming network.”

A number of other research firms also recently issued reports on LGF.A. B. Riley reiterated a buy rating and set a $36.00 price objective on shares of Lions Gate Entertainment Co. Class A Voting Shares in a research note on Sunday, June 4th. SunTrust Banks, Inc. raised shares of Lions Gate Entertainment Co. Class A Voting Shares from a hold rating to a buy rating in a research report on Friday, June 2nd. Rosenblatt Securities reissued a buy rating on shares of Lions Gate Entertainment Co. Class A Voting Shares in a research report on Friday, April 7th. Finally, Canaccord Genuity assumed coverage on shares of Lions Gate Entertainment Co. Class A Voting Shares in a research report on Tuesday, April 4th. They set a buy rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Lions Gate Entertainment Co. Class A Voting Shares presently has an average rating of Buy and an average target price of $32.40.

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