Another day, another record closing stock price for Lionsgate. Investors are licking their chops over the expected blockbuster ticket sales for The Hunger Games, which opens Friday. That propelled company shares +7.2% today to $15.28. It also followed a 7.8% jump on Monday. Indeed, Lionsgate’s up 26.9% over the 30 days — and 83.7% just in 2012. The company now trades at an astronomical 63.9 times its expected earnings per share, according to Yahoo Finance. To put that into perspective, CBS, Comcast, Disney, News Corp and Time Warner trade in a range of about 10-to-14 times earnings. Lionsgate bulls are still charging, though. This morning Miller Tabak & Co analyst David Joyce raised his target price for the stock to $17 from $14 “due to continued positive sentiment” toward Hunger Games, which he says could generate $300M at box offices. But even he seems to have had enough. “We are not making further estimate adjustments at this time,” he says.
By DAVID LIEBERMAN, Financial Editor | Tuesday March 20, 2012 @ 5:06pm EDTTags: Lionsgate, Lionsgate Stock, The Hunger Games
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This article was printed from http://www.deadline.com/2012/03/lionsgate-shares-continue-to-roar-ahead-of-hunger-games/
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