Zacks Investment Research cut shares of Eros International (NYSE:EROS) from a hold rating to a sell rating in a research report report published on Friday, August 24th.
According to Zacks, “Eros International Plc co-produces, acquires and distributes Indian language film content across multiple formats globally, including theatrical, television and digital channels. It distributes Indian-made films, known as Bollywood movies, in the United Kingdom, United States, Australia, the United Arab Emirates, and India. The Company releases Indian films that are subtitled or dubbed in local languages to Germany, Poland, Russia, Indonesia, Malaysia, Taiwan, Japan, South Korea, China and Arabic speaking countries. Eros International Plc is based in Douglas, the United Kingdom. “
Several other equities research analysts have also weighed in on the company. Citigroup initiated coverage on Eros International in a research report on Tuesday, August 14th. They set a buy rating and a $16.00 price target on the stock. ValuEngine raised Eros International from a hold rating to a buy rating in a report on Tuesday, July 31st. Finally, Wells Fargo & Co upped their price target on Eros International from $15.00 to $17.00 and gave the company an outperform rating in a report on Thursday, June 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $16.67.
Eros International (NYSE:EROS) last posted its earnings results on Wednesday, June 27th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). Eros International had a negative net margin of 13.52% and a positive return on equity of 1.31%. The business had revenue of $71.93 million for the quarter, compared to analysts’ expectations of $71.65 million.
A number of institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Eros International by 18.0% during the first quarter. California State Teachers Retirement System now owns 46,754 shares of the company’s stock worth $510,000 after purchasing an additional 7,133 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Eros International during the first quarter worth about $540,000. Finally, Bank of New York Mellon Corp grew its position in shares of Eros International by 10.1% during the second quarter. Bank of New York Mellon Corp now owns 92,078 shares of the company’s stock worth $1,197,000 after purchasing an additional 8,414 shares in the last quarter. Institutional investors and hedge funds own 61.34% of the company’s stock.
Eros International Company Profile
Eros International Plc, together with its subsidiaries, co-produces, acquires, and distributes Indian films in various formats worldwide. The company distributes its film content through various distribution channels, including theatrical, which includes multiplex chains and stand-alone theaters; television syndication that comprises satellite television broadcasting, cable television, and terrestrial television; and digital and ancillary, such as Internet protocol television, video on demand, music, inflight entertainment, home video, and Internet channels, as well as Eros Now online entertainment service.
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