Zacks Investment Research Upgrades Eros International PLC (NYSE:EROS) to Hold
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. “
A number of other analysts have also weighed in on EROS. Jefferies Group LLC restated a “buy” rating and set a $15.00 target price (down previously from $18.00) on shares of Eros International PLC in a report on Monday, July 31st. TheStreet lowered Eros International PLC from a “c” rating to a “d+” rating in a report on Friday, July 28th. ValuEngine lowered Eros International PLC from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, BidaskClub downgraded Eros International PLC from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Eros International PLC has an average rating of “Hold” and an average price target of $14.33.
Shares of Eros International PLC (NYSE:EROS) opened at 8.95 on Tuesday. Eros International PLC has a one year low of $8.65 and a one year high of $19.87. The company’s 50-day moving average price is $11.63 and its 200-day moving average price is $10.93. The stock has a market cap 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 EROS. State Street Corp increased its stake in shares of 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 in the last quarter. Teachers Advisors LLC increased its stake in Eros International PLC by 25.4% in the fourth quarter. Teachers Advisors LLC now owns 55,045 shares of the company’s stock valued at $718,000 after buying an additional 11,159 shares during the period. Bank of New York Mellon Corp increased its stake in 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 valued at $1,230,000 after buying an additional 3,897 shares during the period. American International Group Inc. increased its stake 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 valued at $188,000 after buying an additional 1,205 shares during the period. Finally, Van ECK Associates Corp bought a new stake in Eros International PLC during the first quarter valued at $882,000. 69.26% of the stock is currently owned by institutional investors and hedge funds.
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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