AllAnalyst Report
logoArgusAugust 24, 2020

Lions Gate Entertainment Corp.: Maintaining HOLD after fiscal 1Q21 results

Symbols
LGF-A
Sector(s)
Communication Services
Rating
Current Price
$20.06
Price Target
$NaN
Earnings Estimate
Summary

Lionsgate produces and distributes motion pictures and television shows globally through theatrical, television, home video, and digital platforms. It acquired Summit Entertainment, another small studio, in January 2012 and the Starz premium cable channel in December 2016. A primary focus for the company is the young adult audience. It has two mega-grossing franchises in 'The Hunger Games' and 'The Twilight Saga,' as well as a number of lower-profile genre-oriented titles targeted at the horror, urban, and Hispanic markets. The company generated 18% of its FY18 revenue outside the U.S. With the Starz merger, Lionsgate created two new share classes to replace its old share classes. The new Lionsgate Series A voting shares are denominated LGF.A by the company, LGF/A by Bloomberg, and LGF-A by Yahoo Finance. The Series B nonvoting shares are likewise denominated LGF.B by the company, LGF/B by Bloomberg, and LGF-B by Yahoo Finance. There are 83 million Series A shares outstanding, and the LGF/A ticker retains the historical and volume trading data. There are 137.5 million Series B shares outstanding. Investors should note that Argus covers the ticker LGF/A, and therefore the market capitalization on the Argus website reflects only LGF/A and not the combined LGF/A and LGF/B shares.

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Analyst Profile

Joseph F. Bonner, CFA

Senior Analyst: Communication Services & Technology
Joe covers the Communication Services sector and selected software technology stocks for Argus. In 2010, he was named #5 Stock Picker for Telecom Services in the Wall Street Journal's Best on the Street Analyst Survey. In 2008, Joe was named #1 Stock Picker for Media: U.S. by the Financial Times and was second in the Wall Street Journal's Best on the Street Analyst Survey for Telecommunications: Fixed Line. For more than a decade, Joe worked with Technicolor Inc., where he focused on financial and legal issues. He received his Masters in Business Administration from Fordham University in New York, where he concentrated in Finance. He earned a BA in International Affairs from the George Washington University, and spent three years with the Peace Corps in Talgar, Kazakhstan, developing an English Language resource center and teaching students. Joe is a CFA charterholder.