×

Analysts up Lionsgate’s price targets

Strong earnings report keeps company stock on the rise

Wall Street has continued to swoon over Lionsgate as a half-dozen analysts have boosted their price targets for the studio in the wake of a strong earnings report.

The analyst upgrades have kept Lionsgate shares on an upward path. The stock has posted a dozen all-time highs this year and closed Friday up 1 cent at $20.41 — more than double the $8.60 a share price when Lionsgate bought Summit a year ago.

Monday’s earnings report easily topped Wall Street estimates thanks to the final “Twilight” film with earnings of $37.8 million, or 28 cents a share, on revenues of $743.6 million and EBITDA of $87.2 million for its third quarter ended Dec. 31. Alexia Quadrani of JP Morgan reiterated the overweight rating the next day and bumped the price target up from $20 to $22.

“Shares have bounced back nicely from lows following the release of ‘Hunger Games’, and we believe more upside is likely, especially on higher estimates as we approach numerous positive catalysts that we believe will demonstrate the breadth of LGF’s TV and film slate and the company’s improved financial position.”

Jim Goss of Barrington Research upgraded from $21 to $24 after a recent boost from $19 to $21; David Bank of RBC Capital pushed his target from $18 to $21; James Marsh of Piper Jaffray went from $22 to $25; Alan Gould of Evercore moved from $20 to $24 and David Miller, BRiley Caris went from $21 to $23.

Analysts have expressed confidence that Lionsgate will be able to mirror the success of launching more young-adult franchises and cited efforts to leverage its content into digital media initiatives; strengthening Lionsgate’s capital structure, including the recent completion of a new five-year, $800 million revolving credit facility.

Lionsgate has also maintained continuity in management team with several recent deals announced for re-upping vice chairman Michael Burns, Wayne Levin as general counsel and chief strategic, and Jason Constantine as president of acquisitions and co-productions for its motion picture group.

Popular on Variety

More Film

  • Samuel-W.-Gelfman

    Samuel Gelfman, Roger Corman Film Producer, Dies at 88

    Samuel Gelfman, a New York producer known for his work on Roger Corman’s “Caged Heat,” “Cockfighter” and “Cannonball!,” died Thursday morning at UCLA Hospital in Westwood following complications from heart and respiratory disease, his son Peter Gelfman confirmed. He was 88. Gelfman was born in Brooklyn, New York and was raised in Caldwell New Jersey [...]

  • Margot Robbie stars in ONCE UPON

    Box Office: 'Once Upon a Time in Hollywood' Pulls Ahead of 'Hobbs & Shaw' Overseas

    Sony’s “Once Upon a Time in Hollywood” might not have hit No. 1 in North America, but Quentin Tarantino’s latest film is leading the way at the international box office, where it collected $53.7 million from 46 markets. That marks the best foreign opening of Tarantino’s career, coming in ahead of 2012’s “Django Unchained.” “Once [...]

  • Good Boys Movie

    Box Office: 'Good Boys' Leads Crowded Weekend With $21 Million

    The Bean Bag Boys, the self-appointed nickname for the trio of best friends in Universal’s “Good Boys,” are conquering much more than sixth grade. They are also leading the domestic box office, exceeding expectations and collecting $21 million on opening weekend. “Good Boys,” which screened at 3,204 North American theaters, is a much-needed win for [...]

  • Amanda Awards

    ‘Out Stealing Horses’ Tops Norway’s 2019 Amanda Awards

    HAUGESUND, Norway —  Hans Petter Moland’s sweeping literary adaptation “Out Stealing Horses” put in a dominant showing at Norway’s Amanda Awards on Saturday night, placing first with a collected five awards, including best Norwegian film. Celebrating its 35th edition this year, the Norwegian industry’s top film prize helped kick off the Haugesund Film Festival and [...]

  • Editorial use onlyMandatory Credit: Photo by

    Richard Williams, 'Who Framed Roger Rabbit' Animator, Dies at 86

    Renowned animator Richard Williams, best known for his work on “Who Framed Roger Rabbit,” died Friday at his home in Bristol, England, Variety has confirmed. He was 86. Williams was a distinguished animator, director, producer, author and teacher whose work has garnered three Oscars and three BAFTA Awards. In addition to his groundbreaking work as [...]

  • Instinct

    Locarno Film Review: 'Instinct'

    Now that “Game of Thrones” has finally reached its conclusion, releasing its gifted international ensemble into the casting wilds, will Hollywood remember just what it has in Carice van Houten? It’s not that the statuesque Dutch thesp hasn’t been consistently employed since her startling 2006 breakout in Paul Verhoeven’s “Black Book,” or even that she’s [...]

More From Our Brands

Access exclusive content