Shanda Interactive Entertainment (SNDA) has been downgraded today by the securities research analysts at investment firm HSBC Securities which decreased Shanda Interactive from a “neutral” rating to “underweight.” HSBC noted that Shanda’s platform strategy is not producing desired results. HSBC also slightly dropped their performance outlook for Shanda, adjusting their price target from $43 to $41 dollars. ‘SNDA’ is down during intraday trading.
Shanda Interactive is slated to release their next earnings report on September 8th, 2011 and the current consensus EPS estimate is expected to be 26 cents. Shanda’s last earnings report was released two days ago on June 1st, 2011 and announced EPS of 36 cents with revenue totaling $248.7 million which was up 28.8 % year to year. SNDA is currently trading below its 50 & 200-day moving averages and 2011 is currently an up year for the company.
Shanda Interactive Entertainment is one of China’s leading interactive entertainment media companies. They develop MMORPG games where massive amounts of people can play the same game simultaneously. The company has market capitalization of $2,591,000,000 and 67,431,000 shares outstanding. SNDA has a 52-week high of $54.20 with the low being $36.32 dollars.
