THQ Lowers Guidance, Shares Fall 14% (THQI)

Shares of Agoura Hills, California-based THQ Inc. THQI are trading down 14% at $5.51 per share during the Thursday morning trading session. The day's trading range for shares of THQ Inc has been between $5.31 and $5.75 per share. Analysts covering the company's stock give it a consensus price target of $5.41 per share. Volume of 4.3 million shares is already nearly 4 times the daily average volume of 1.1 million shares. THQ Inc. (THQI) announced on after the market closed on Wednesday that it beat consensus Wall Street expectations. THQ Inc announced 3rd quarter adjusted earnings of 37 cents per share, on revenue of $314.6 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 26 cents per share, on revenue of $315.84 million. However, the company lowered its 4th quarter guidance to a range of 5 cents to 15 cents per share, on revenue of $245 to $260 million, which is much lower than than the consensus analyst estimate of 34 cents EPS, on revenue of $301.73 million. THQ Inc is a developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Read more from Benzinga's Company news.