DreamWorks Rises on Better-Than-Expected Sales for ‘The Croods’Christopher Palmeri
DreamWorks Animation SKG Inc., the studio led by Jeffrey Katzenberg, advanced after a Lazard Capital Markets analyst raised his estimate for total domestic ticket sales for the film “The Croods.”
“The Croods,” which follows a prehistoric family challenged by new discoveries such as fire, will likely take in $192 million, up from a projection of $151 million, Barton Crockett, a Lazard analyst in New York, wrote in a note yesterday.
The first major animated film of the year, “The Croods” opened at No. 1 in U.S. theaters the weekend of March 22, taking in $43.6 million. Ticket sales last weekend fell 23 percent to $20.7 million, bring its total sales to $125.4 million. Sony Corp.’s “Evil Dead” ranked first with $26 million.
Glendale, California-based DreamWorks Animation rose 5.2 percent to $19.33 at the close in New York. The shares have increased 17 percent this year compared with a 9.6 percent gain for the Standard & Poor’s 500 Index.