Over the Hedge under performing for Wall Street
Wall Street estimates Wall Street trims “Hedge” box-office forecast | Reuters.com:LOS ANGELES (Hollywood Reporter) – “Over the Hedge” managed a modest 30 percent box office decline in its second weekend, though some analysts are concerned that the animal cartoon still could underperform and put pressure on the stock of its producer, DreamWorks Animation SKG Inc.The film earned $84 million in its first 11 days, after a $35.3 million performance over the Memorial Day Holiday weekend, but has just one more weekend to itself before arch-rival Walt Disney Co. releases the Pixar-produced “Cars.””It now appears unlikely that ‘Over the Hedge’ will reach either our estimate of $195 million in domestic box office or original consensus expectations of $180 million,” Merrill Lynch analyst Jessica Reif Cohen wrote in a research note Wednesday after others had raised concern last week.The analyst said DreamWorks Animation likely will earn less than 50 cents per share this year, which would be a significant earnings miss relative to her 57 cents per share forecast.The analyst said she is reining in her box office prediction to $150 million-$160 million domestically for “Hedge.”