Barclays Raises Estimates on DreamWorks Animation (DWA); Valuation Keeps Us At 'Underweight'
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Price: $21.30 +1.24%
Rating Summary:
2 Buy, 5 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 5 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade DWA Now!
Barclays maintains an 'Underweight' on DreamWorks Animation (NASDAQ: DWA) price target of $15.00.
Analyst, Anthony DiClemente, said, "...While the weekend take fell just short of Madagascar 2's $63M haul in 2008, it was still a very impressive result (Mad 3 hauled in $60.4 million). We are therefore raising our 2012 EPS estimate slightly to reflect higher expected worldwide box office revenues for Madagascar 3. However, our $15 price target remains unchanged, as we believe the stock's current P/E multiple of 19.0x is still expensive relative to the group, which trades at 13.6x 2012 EPS."
Despite the Underweight rating, DiClemente raises FY12 EPS estimates from $0.93 to $0.95, maintains FY13 EPS at $1.04.
For an analyst ratings summary and ratings history on DreamWorks Animation click here. For more ratings news on DreamWorks Animation click here.
Shares of DreamWorks Animation closed at $18.01 yesterday, with a 52 week range of $16.34-$22.38.
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Analyst, Anthony DiClemente, said, "...While the weekend take fell just short of Madagascar 2's $63M haul in 2008, it was still a very impressive result (Mad 3 hauled in $60.4 million). We are therefore raising our 2012 EPS estimate slightly to reflect higher expected worldwide box office revenues for Madagascar 3. However, our $15 price target remains unchanged, as we believe the stock's current P/E multiple of 19.0x is still expensive relative to the group, which trades at 13.6x 2012 EPS."
Despite the Underweight rating, DiClemente raises FY12 EPS estimates from $0.93 to $0.95, maintains FY13 EPS at $1.04.
For an analyst ratings summary and ratings history on DreamWorks Animation click here. For more ratings news on DreamWorks Animation click here.
Shares of DreamWorks Animation closed at $18.01 yesterday, with a 52 week range of $16.34-$22.38.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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