Zacks Investment Research upgraded shares of Eros International (NYSE:EROS) from a sell rating to a hold rating in a report issued on Wednesday, September 12th.
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. “
EROS has been the subject of a number of other research reports. Wells Fargo & Co increased their price target on shares of Eros International from $15.00 to $17.00 and gave the stock an outperform rating in a research note on Thursday, June 28th. ValuEngine downgraded shares of Eros International from a buy rating to a hold rating in a research report on Thursday, August 30th. Finally, Citigroup began coverage on shares of Eros International in a research report on Tuesday, August 14th. They set a buy rating and a $16.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Eros International presently has an average rating of Hold and a consensus target price of $16.67.
NYSE:EROS traded down $0.23 during trading hours on Wednesday, reaching $12.51. 291,800 shares of the company’s stock were exchanged, compared to its average volume of 381,165. The stock has a market cap of $749.93 million, a P/E ratio of -139.00 and a beta of 0.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.25 and a quick ratio of 1.25. Eros International has a 1-year low of $9.20 and a 1-year high of $15.18.
Eros International (NYSE:EROS) last issued its quarterly earnings results on Thursday, August 23rd. The company reported $0.02 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.02. The firm had revenue of $60.21 million during the quarter, compared to analysts’ expectations of $63.05 million. Eros International had a negative net margin of 13.52% and a positive return on equity of 1.31%.
A number of institutional investors have recently made changes to their positions in EROS. Russell Investments Group Ltd. purchased a new position in Eros International during the 1st quarter worth $540,000. Bank of New York Mellon Corp increased its holdings in shares of Eros International by 10.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 92,078 shares of the company’s stock valued at $1,197,000 after purchasing an additional 8,414 shares in the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Eros International by 18.0% in the 1st quarter. California State Teachers Retirement System now owns 46,754 shares of the company’s stock valued at $510,000 after purchasing an additional 7,133 shares in the last quarter. Institutional investors own 54.90% 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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