Starz (STRZA) is Downgraded by CLSA to Underperform

Starz (STRZA) was Downgraded by CLSA to ” Underperform”. Earlier the firm had a rating of “Outperform ” on the company shares. CLSA advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Starz. Starz was Downgraded by Pivotal Research Group to ” Hold” on Jul 29, 2016. Starz was Downgraded by Macquarie to ” Neutral” on Jul 1, 2016. Company shares were Reiterated by FBR Capital on Jul 1, 2016 to “Outperform”, Firm has raised the Price Target to $ 32 from a previous price target of $26 .

On the company’s financial health, Starz reported $0.54 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.54. The company had revenue of $402.60 million for the quarter, compared to analysts expectations of $421.17 million. The company’s revenue was down -3.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.

Starz opened for trading at $29.27 and hit $30.515 on the upside on Friday, eventually ending the session at $30.23, with a gain of 0.90% or 0.27 points. The heightened volatility saw the trading volume jump to 12,63,802 shares. Company has a market cap of $2,976 M.

In a different news, on May 11, 2016, Jeffrey Sagansky (director) sold 3,500 shares at $27.43 per share price. According to the SEC, on Jan 8, 2016, Christopher Albrecht (Chief Executive Officer) sold 45,941 shares at $32.21 per share price. On Dec 4, 2015, Michael Thornton (EVP/CRO StrzMedia/Entertainm’t) sold 4,696 shares at $35.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Starz is an integrated media and entertainment company. Starz is engaged in video programming and development production acquisition and distribution of entertainment content. The Company has three segments: Starz Networks Starz Distribution and Starz Animation. Starz Networks provides premium subscription video programming to multichannel video programming distributors (MVPDs) in the United States including cable operators satellite television providers and telecommunications companies. The Starz Distribution segment includes its Anchor Bay Entertainment Starz Digital and Starz Worldwide Distribution businesses. Starz Animation through Film Roman LLC develops and produces two-dimensional animated content for third party entertainment companies. The Company conducts its operations under the STARZ ENCORE MOVIEPLEX Anchor Bay Entertainment Starz Digital Starz Worldwide and Film Roman brand names.


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