Markets & Finance

SWS Cuts Blockbuster to 'Market Outperform'

SWS Securities downgraded Blockbuster (BBI) to market outperform from strong buy.

Analyst Harry Katica says the company has experienced a significant slowing of movie rentals since Thanksgiving, as consumers are attracted to the discounted prices offered by mass merchants on new DVD titles. He cut his $1.32 2002 earnings per share estimate to $1.05, and cut the $1.51 2003 estimate to $1.25.

While he believes the exaggerated trade-off from rental to purchases is a temporary phenomenon, Katica says it will take several quarters to see how the trend develop

Race, Class, and the Future of Ferguson

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus