Eros International (EROS) Sets New 52-Week Low at $8.18

Eros International plc (NYSE:EROS) reached a new 52-week low on Tuesday . The stock traded as low as $8.18 and last traded at $8.12, with a volume of 670378 shares traded. The stock had previously closed at $9.36.

Several equities research analysts have recently weighed in on EROS shares. Zacks Investment Research lowered Eros International from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Citigroup started coverage on Eros International in a research note on Tuesday, August 14th. They set a “buy” rating and a $16.00 price objective for the company. Finally, ValuEngine lowered Eros International from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.50.

The company has a market capitalization of $513.44 million, a price-to-earnings ratio of -97.89 and a beta of 0.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.29 and a quick ratio of 1.25.

Eros International (NYSE:EROS) last released its quarterly earnings data on Thursday, November 15th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.13. The business had revenue of $63.43 million during the quarter, compared to analyst estimates of $72.60 million. Eros International had a positive return on equity of 2.72% and a negative net margin of 7.95%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EROS. Capital World Investors purchased a new stake in shares of Eros International in the third quarter valued at $96,337,000. Cim Investment Mangement Inc. purchased a new stake in shares of Eros International in the third quarter valued at $463,000. TIAA CREF Investment Management LLC lifted its holdings in shares of Eros International by 39.4% in the third quarter. TIAA CREF Investment Management LLC now owns 93,015 shares of the company’s stock valued at $1,121,000 after purchasing an additional 26,299 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Eros International by 10.1% in the second 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 lifted its holdings in shares of Eros International by 18.0% in the first 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 55.30% of the company’s stock.

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Eros International Company Profile (NYSE:EROS)

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.

Further Reading: What are trading strategies for the 52-week high/low?

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