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Shares of Lionsgate slid 12% Friday to an eight-month low after the company told analysts that its previously expected growth would be pushed back a year.
Shares declined by $3.76 to $26.81 in trading on the New York Stock Exchange. It was the lowest close since June 20, when the issue closed at $26.61.
CEO - Jon - Feltheimer - Earnings - Conference
CEO Jon Feltheimer said in the earnings conference call on Thursday that the company was on track to meet expectations for the current fiscal year, which ends March 31.
“As we continue to add scale to our platform by investing in talent and content continue to expand Starz internationally and ramp up our emerging businesses,” he said. “The growth we had originally anticipated in fiscal 2019 will likely be pushed back a year to fiscal 2020. We expect this increased investment in content to lead to greater returns for our shareholders, as well as enabling us to resume our strong growth trajectory.”
KeyBanc - Capital - Markets - Analyst - Evan
KeyBanc Capital Markets analyst Evan Wingren downgraded Lionsgate from Overweight to Sector Weight.
“Although we think Lionsgate should continue to trade at a premium to ad-supported cable network peers, even accounting for this on...
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