Wells Fargo & Company Reaffirms Outperform Rating for Eros International PLC (NYSE:EROS)

Wells Fargo & Company reiterated their outperform rating on shares of Eros International PLC (NYSE:EROS) in a report published on Monday, October 9th. Wells Fargo & Company currently has a $17.00 target price on the stock, up from their prior target price of $16.00.

Several other brokerages have also recently commented on EROS. ValuEngine upgraded shares of Eros International PLC from a sell rating to a hold rating in a report on Monday, September 18th. Jefferies Group LLC restated a buy rating and set a $17.00 price target (up from $15.00) on shares of Eros International PLC in a report on Monday, October 9th. BidaskClub cut shares of Eros International PLC from a buy rating to a hold rating in a report on Thursday, July 27th. TheStreet cut shares of Eros International PLC from a c rating to a d+ rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Eros International PLC from a sell rating to a hold rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $17.00.

Eros International PLC (NYSE:EROS) traded down 5.04% on Monday, reaching $13.20. 530,302 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $13.79 and a 200-day moving average of $11.11. Eros International PLC has a 12-month low of $6.65 and a 12-month high of $18.85. The company’s market cap is $800.29 million.

Eros International PLC (NYSE:EROS) last announced its earnings results on Friday, October 6th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Eros International PLC had a return on equity of 0.03% and a net margin of 0.20%. The firm had revenue of $60.83 million during the quarter. Equities analysts expect that Eros International PLC will post $0.18 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in Eros International PLC by 7.1% during the first quarter. American International Group Inc. now owns 18,219 shares of the company’s stock worth $188,000 after acquiring an additional 1,205 shares during the period. Boston Common Asset Management LLC increased its position in Eros International PLC by 34.8% during the first quarter. Boston Common Asset Management LLC now owns 20,745 shares of the company’s stock worth $214,000 after acquiring an additional 5,350 shares during the period. Tudor Investment Corp ET AL bought a new position in Eros International PLC during the first quarter worth $256,000. Parametric Portfolio Associates LLC increased its position in Eros International PLC by 36.4% during the second quarter. Parametric Portfolio Associates LLC now owns 30,135 shares of the company’s stock worth $345,000 after acquiring an additional 8,041 shares during the period. Finally, Van ECK Associates Corp bought a new stake in Eros International PLC in the 1st quarter valued at $882,000. 56.08% of the stock is currently owned by institutional investors.

About Eros International PLC

Eros International Plc (Eros) is a holding company, which serves the Indian film entertainment industry. The Company’s principal activities include the acquisition, co-production and distribution of Indian films and related content. It distributes its film content through the distribution channels, such as theatrical, including multiplex chains and standalone theaters; television syndication, including satellite television broadcasting, cable television and terrestrial television; digital and ancillary, including music, inflight entertainment, home video, Internet protocol television (IPTV), video on demand (VOD), and Internet channels and Eros Now.

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