FBR Capital Reiterates Outperform on Lions Gate (LGF) Following 4Q Beat
FBR Capital maintained an Outperform rating and $23.00 price target on Lions Gate (NYSE: LGF) following the company's 4Q earnings report. LGF reported revenues of $791.2M topped the consensus estimate by $51.9M. Adjusted EPS were $0.26. Consensus was $0.05.
Analyst Barton Crockett commented, "We always caution about reading too much into quarterly earnings variances for studios like Lions Gate since film accounting makes quarterly earnings lumpy and difficult to predict. That said, Lions Gate's F4Q16 report, post-close May 25, came in above expectations, with the main variance to our model being better TV margins, which, we suspect, were tied to international licensing of Orange Is the New Black to Netflix."
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Shares of Lions Gate closed at $19.76 yesterday.