Nach guten Zahlen, aber einem nicht ganz so fantastischem Ausblick ist die Aktie um fast 20% eingebrochen.
Shanda Games Q1 Outlook Disappoints; GAME, SNDA Fall.
http://blogs.barrons.com/techtraderdaily/2010/03/...?mod=yahoobarrons
By Eric Savitz
Shares of both Shanda Games (GAME) and its parent Shanda Interactive (SNDA) are trading sharply lower on disappointing Q1 guidance from GAME.
For Q4, GAME posted revenue of $195.7 million and non-GAAP EPS of 22 cents per ADS, a bit ahead of the Street at $195.1 million and 20 cents.
But according to several analyst reports, the company on its post-report conference call gave disappointing guidance, calling for Q1 revenue to be down 10%-15% sequentially, due to an expected hit to ARPU related to a new expansion pack for Mir2, the company’s flagship online game. On the weak guidance, Citigroup analyst Alicia Yap this morning downgraded the stock to Hold from Buy, with a new target of $9, down from $12.50. J.P. Morgan analyst Dick Wei keeps his Overweight rating on the shares, but cuts his target to $11, from $14.50.
Meanwhile, Shanda Interactive reported Q4 revenue of $221.6 million and non-GAAP profits of 88 cents per ADS, ahead of the Street at $212.6 million and 84 cents. But as Susquehanna Financial analyst C. Ming Zhao noted this morning, GAME has lately accounted for 88% of SNDA’s revenue and 84% of non-operating income; SNDA also owns a majority of GAME’s stock. When GAME sneezes, in other words, SNDA gets a cold. Ergo, Zhao downgraded SNDA shares to day to Neutral from Positive.
In today’s trading :
GAME is down $1.34, or 16.2%, to $6.93.
SNDA is down $4.50, or 9.9%, to $40.80.
Damit scheint die Aktie jetzt relativ billig zu sein. Die Zukunftsfantasie und der Wachstumsmarkt Online Games könnte sie wieder nach oben treiben... |
