Coinstar Shares Surge 22.7% (CSTR)

Shares of Coinstar, Inc. CSTR are trading up 22.7% at $56.78 per share during the Friday morning trading session. This morning's trading range for shares of Coinstar, Inc has been between $55.05 and $57.72 per share. Analysts covering the company's stock give it a consensus price target of $56.91 per share. Volume is at 5.5 million shares traded so far today, while the daily average volume is 1.3 million shares. Coinstar, Inc. (CSTR) announced on Thursday after the market closed that it beat consensus Wall Street expectations. Coinstar, Inc reported 3rd quarter earnings from continuing operations of 66 cents per share, on revenue of $380.2 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 50 cents per share, on revenue of $381.84 million. Chief executive officer Paul Davis said, "Coinstar's exceptional third quarter performance demonstrates the strength of our leading Coin and DVD businesses, and our ability to execute, drive operational efficiencies and deliver what our consumers want. We are confident in our growth prospects and believe we are in a great position to continue creating value through our automated retail strategy." Coinstar, Inc forecast 4th quarter revenue in the range of $415 million to $440 million, EBITDA between $84 million and $90 million and GAAP EPS from continuing operations in the range of 79 cents to 85 cents. Read more from Benzinga's Company news.