Eros International PLC (NYSE:EROS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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 research firms have also recently commented on EROS. BidaskClub cut shares of Eros International PLC from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $18.00 price objective on shares of Eros International PLC in a research note on Friday, July 14th. TheStreet cut shares of Eros International PLC from a “c” rating to a “d+” rating in a research note on Friday, July 28th. Finally, ValuEngine cut shares of Eros International PLC from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $14.33.
Shares of Eros International PLC (NYSE:EROS) opened at 8.95 on Tuesday. Eros International PLC has a 12 month low of $8.05 and a 12 month high of $19.87. The company has a 50-day moving average of $11.51 and a 200-day moving average of $10.88. The stock has a market capitalization of $531.96 million, a PE ratio of 175.49 and a beta of 0.49.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Eros International PLC by 7.1% in the first quarter. American International Group Inc. now owns 18,219 shares of the company’s stock worth $188,000 after buying an additional 1,205 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Eros International PLC by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 119,483 shares of the company’s stock worth $1,230,000 after buying an additional 3,897 shares during the period. Boston Common Asset Management LLC boosted its stake in shares of Eros International PLC by 34.8% in the first quarter. Boston Common Asset Management LLC now owns 20,745 shares of the company’s stock worth $214,000 after buying an additional 5,350 shares during the period. Teachers Advisors LLC boosted its stake in shares of Eros International PLC by 25.4% in the fourth quarter. Teachers Advisors LLC now owns 55,045 shares of the company’s stock worth $718,000 after buying an additional 11,159 shares during the period. Finally, State Street Corp boosted its stake in Eros International PLC by 3.8% in the fourth quarter. State Street Corp now owns 471,850 shares of the company’s stock worth $6,157,000 after buying an additional 17,405 shares during the last quarter. Institutional investors own 69.26% of the company’s stock.
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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