BUZZ-Entertainment One: FX headwinds overshadow in-line trading update

Wed Sep 9, 2015 5:46am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Entertainment One's shares down 4.3 pct, top FTSE mid-cap loser, after it said results remain pressured from pound strength

** Analysts say update is in-line with expectations, but highlight strength of the pound against the Canadian and Australian dollars and the euro

** Investec analysts cut PT to 360p from 376p; Canaccord Genuity analysts cut PT to 390p from 410p

** "FX headwinds mean we are reducing our EPS estimates for FY16E by 5.4% and FY17E by 4.9%," Canaccord analysts say in note

** Stock is also the only loser on the FTSE 350 Media Index ; 1.75x its 30-day avg volume already gone through (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)