Dreamworks Animation SKG Inc

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  • Mon, Feb. 1, 2:12 PM
    • Kung Fu Panda 3 (DWA -7.5%, Fox distributing) was victorious at the weekend box office, dominating with a $41M domestic showing that easily surpassed holiday holdovers.
    • The Revenant (FOX -0.7%, FOXA -0.4%) drew $12.4M to bring its cumulative take to $138.2M, and Star Wars: The Force Awakens (DIS -0.6%) edged Disney's newcomer, rescue film The Finest Hours, for third place with $10.8M.
    • The Force Awakens' seventh weekend brought its all-time best domestic total to $895.4M, and the film should cross $2B in total global gross by next weekend.
    • Kung Fu Panda's success helped the recovery of a box office hit by a winter storm last week. Overall grosses were up 30% Y/Y (though last year's comp was Super Bowl weekend).
    | Mon, Feb. 1, 2:12 PM | 5 Comments
  • Wed, Jan. 27, 11:03 AM
    • DreamWorks Animation (NASDAQ:DWA) is off 6.8% as Topeka Capital Markets has downgraded to Sell.
    • The firm has a $19 price target on the stock; shares are trading at $24.70 today but are still up 24.7% from a year-ago after a near-flat past six months.
    • Earlier this month, B. Riley downgraded to Neutral with a $27 price target, while FBR & Co. upgraded shares to Outperform and bumped its own price target to $29 from a previous $22.
    | Wed, Jan. 27, 11:03 AM | 3 Comments
  • Fri, Jan. 15, 4:49 PM
    • Edward Aleman is resigning his post as chief accounting officer at DreamWorks Animation (DWA -2.3%), for personal health reasons.
    • In an 8-K, the company says it expects he'll leave the company no later than Feb. 29. CFO Fazal Merchant will take over as interim chief accounting officer, while the company begins a search for a permanent replacement.
    | Fri, Jan. 15, 4:49 PM
  • Tue, Jan. 12, 10:27 AM
    • With a deal expansion in the can with streaming partner Netflix -- which is newly expanding around the world -- DreamWorks Animation (NASDAQ:DWA) is up 4% on an upgrade from FBR & Co.
    • Analyst Barton Crockett bumped the company to Outperform, from Market Perform, and raised FBR's price target for DWA to $29, from $22. Shares closed yesterday at $24.43 and are trading at $25.40, implying 14% upside in the price target from here.
    • Crockett bumped his EPS estimate for Q4 to $1.04. "We assume that Netflix pays a license fee in the high tens of millions of dollars, with high contribution margins since film production costs are already amortized, driving total film library revenues to near $100 million in the fourth quarter of 2015."
    | Tue, Jan. 12, 10:27 AM
  • Tue, Jan. 5, 10:15 AM
    • DreamWorks Animation (NASDAQ:DWA) is up 2.8% as Netflix (NFLX -2.7%) announces the two have expanded their multi-year deal to include a number of new original family series as well as on-demand rights to the DreamWorks Animation film library.
    • The two companies are extending an existing relationship (on which DWA may be more than a little dependent). Rights for original series currently on the service are being extended throughout Netflix's operating markets and will expand to second-window rights for all markets outside of China.
    • New series will include a "reimagining" of Voltron,, and a new series from director Guillermo del Toro called Trollhunters.
    | Tue, Jan. 5, 10:15 AM
  • Mon, Jan. 4, 10:44 AM
    • DreamWorks Animation (NASDAQ:DWA) is off 7.4% and hitting its lowest point since mid-November following a downgrade to Neutral by B. Riley.
    • The firm is maintaining its $27 price target -- which was about 4.8% upside from last Thursday's closing of $25.77.
    • Early last month, Riley had cut estimates for fiscal 2015 DWA earnings to -$0.22, from a previous -$0.17 -- that vs. a consensus expectation for EPS of -$0.32.
    • DreamWorks Animation is expected to release earnings for Q4 on Feb. 22 after the close.
    | Mon, Jan. 4, 10:44 AM
  • Nov. 5, 2015, 4:14 PM
    • DreamWorks Animation (NASDAQ:DWA) has leapt 14.8% after a Q3 report where it posted a profit after excluding restructuring costs.
    • Net income was $1.4M after adjusting for $3.6M in pretax charges connected to the company's January restructuring plan.
    • Revenue by segment: Feature films, $157.9M (up 10.9%); Television Series and Specials, $50.7M (up 255%); Consumer products, $27M (up 123%); New Media, $20.7M (up 144%); other, $2.9M.
    • The company notes that Home (its only slated theatrical film this year) has hit $386M in worldwide box office, and contributed $49.7M to the feature film segment this quarter.
    • Conference call to come at 4:30 p.m. ET.
    | Nov. 5, 2015, 4:14 PM
  • Oct. 30, 2015, 3:35 PM
    • DreamWorks Animation (NASDAQ:DWA) is among today's top losers in media, down 8.7% as Bank of America/Merrill Lynch downgraded the stock to Underperform, from Neutral.
    • The analysts have a $16 price target. Shares closed yesterday at $21.94, and are down to $20.04 today.
    • After a bit of a rebound from a rough 2014, DreamWorks shares have fallen anew in the past three months, down 18%.
    • Overall, analyst consensus is for a Hold rating with a $21 target.
    • Previously: DreamWorks Animation -5.1% as net loss widens on restructuring cost (Aug. 04 2015)
    • Previously: DreamWorks his 15-month high on bullish Stifel note (Jun. 05 2015)
    | Oct. 30, 2015, 3:35 PM
  • Oct. 27, 2015, 4:37 PM
    • DreamWorks Animation (DWA -2.9%) has added Maggie Wilderotter to its board of directors.
    • Wilderotter is executive chairman of Frontier Communications and was its CEO from 2006 until relinquishing that title earlier this year.
    • Wilderotter has been hitting the boards since leaving Frontier's CEO post. In addition to serving at Frontier, she has seats at Juno Therapeutics, Xerox, and (as of earlier this month) Costco.
    | Oct. 27, 2015, 4:37 PM
  • Aug. 4, 2015, 5:41 PM
    • DreamWorks Animation (NASDAQ:DWA) has now slipped 5.1% after hours, after beating expectations on top and bottom lines even as net loss widened due to the company's ongoing restructuring, which has involved deep staff cuts and the sale of its headquarters this year.
    • Revenue grew almost 40% Y/Y as Home -- the studio's only theatrical release for the year -- contributed $23.9M in film revenue for Q2. The film hit physical DVD and Blu-ray before quarter's end, and overall it's earned $177M domestically and $209M internationally at the box office (total $386M worldwide).
    • Adjusted results exclude a $20.9M pretax charge (an effect of $0.25 share on earnings) associated with the restructuring plan. Some $2.4M was due to termination and employee-related costs, $10.9M on accelerated depreciation/amortization with the closure of Redwood City, and $7.6M related to excess staffing tied to the film slate.
    • In the company's earnings call, CEO Jeffrey Katzenberg said “While there is still much work to be done, I’m really proud of what our team has accomplished this quarter."
    | Aug. 4, 2015, 5:41 PM
  • Jun. 12, 2015, 5:37 PM
    | Jun. 12, 2015, 5:37 PM
  • Jun. 10, 2015, 3:55 PM
    • DreamWorks Animation (NASDAQ:DWA) is 4.9% lower today after two firms launched coverage on the studio with Sell ratings.
    • Credit Agricole initiated DreamWorks at Sell, with a $17 price target. CLSA also started coverage at the same rating and $17 price target.
    • Shares are trading today at $26.46, its lowest point this month and 11% down from the 15-month high it hit last Friday on a bullish upgrade from Stifel Nicolaus.
    | Jun. 10, 2015, 3:55 PM | 3 Comments
  • Jun. 5, 2015, 10:59 AM
    • DreamWorks Animation (NASDAQ:DWA) is up 7.2% and has reached its highest price since February 2014 as Stifel Nicolaus upgrades the shares to Buy after an "exceptionally candid" meeting with management.
    • The analyst firm has set a price target of $34. Shares are trading today at $29.47.
    • Stifel's Benjamin Mogil says the firm came away from the meetings "more positive" after hearing about how DWA management was pivoting after problems of the last few years on movie creativity.
    • DreamWorks' film plans are "more realistic/in-tune," Stifel notes, since "2012-2014 film challenges were tied to films which skewed older right as the box office began to see changes whereby animation demand was increasingly skewing younger as kids began to age out of the genre earlier."
    • The studio's TV segment was thought to decline in 2017 after peaking next year, but Stifel now sees that output deals could get extended. For consumer products: "Far more of the revenue target for the year is not tied to feature films, which grants us more comfort with the target's attainability."
    | Jun. 5, 2015, 10:59 AM
  • Apr. 6, 2015, 10:59 AM
    • Furious 7 exceeded all expectations and smashed an April box-office record with a $143.6M weekend -- and big international receipts of $204.4M (from 10,500 screens in 63 territories) point to a massive winner for Universal (CMCSA +0.5%).
    • Notably for a sequel -- where follow-ups usually do a fraction of the first film's business -- the newest entry got the biggest opening weekend of the seven-film series. And it has a relatively clear path to hundreds of millions more before May 1 brings the competition of a new Avengers.
    • Home, the sole 2015 release from DreamWorks Animation (DWA +1.7%), held up well in its second weekend with $27.4M, for a two-week total of $95.6M.
    • Will Ferrell-Kevin Hart comedy Get Hard (NYSE:TWX) took third place with $12.9M ($57M total gross), while Cinderella (DIS; $10.3M; $167.3M total) and Insurgent (LGF; $10M; $103.4M total) were fourth and fifth.
    • Previously: Box office sales and in-theater spending trending strong (Apr. 05 2015)
    • Previously: Holiday movie weekend: Universal to get 'Furious' opening (Apr. 03 2015)
    | Apr. 6, 2015, 10:59 AM | 1 Comment
  • Mar. 30, 2015, 9:52 AM
    • DreamWorks Animation (NASDAQ:DWA) is up 8.2% after Home -- its only film release for 2015 -- led the weekend box office and beat its own expectations with $54M, the company's third-largest non-sequel opening.
    • Following a series of flops for DWA, the film was expected to draw about $30M-$35M.
    • Home is another standout child-focused success in a year filled with adult fare so far. R-rated prison comedy Get Hard (NYSE:TWX) took the No. 2 spot, drawing $34.6M.
    • Insurgent (NYSE:LGF) and Cinderella (NYSE:DIS) followed those two, adding to their considerable takes with $22M and $17.5M respectively. New foreign markets joined Cinderella, pushing it to more than $300M globally, and Insurgent has made $180M worldwide.
    • Kingsman: The Secret Service is a hit with legs for Twenty-First Century Fox (NASDAQ:FOXA), plugging away at sixth place this week (its seventh) with $3M, and passing $300M globally.
    • Previously: DreamWorks up 7.7%, on two-day surge as planning takes shape (Mar. 04 2015)
    | Mar. 30, 2015, 9:52 AM | 5 Comments
  • Mar. 11, 2015, 12:51 PM
    • DreamWorks Animation (NASDAQ:DWA) is up 2.3% as Verizon (NYSE:VZ) seals a deal to add 200 hours of original video content to its upcoming video service from DWA's AwesomenessTV and DreamWorksTV, targeting teens and young millennials with over-the-top video.
    • The programming will include scripted and unscripted series as well as DreamWorks original characters.
    • AwesomenessTV, acquired by DreamWorks in 2013, features 7B views and 112M subscribers.
    • The deal will take some pressure off what some, like BTIG's Richard Greenfield, see as a heavy dependence on Netflix.
    | Mar. 11, 2015, 12:51 PM
Company Description
Dreamworks Animation SKG Inc creates and exploits family entertainment, including animated feature films, television series and specials, live entertainment properties and related consumer products.