AMC Networks PT Raised to $78.00 at Stifel Nicolaus (AMCX)
Equities researchers at Stifel Nicolaus lifted their target price on shares of AMC Networks (NASDAQ:AMCX) from $72.00 to $78.00 in a research report issued on Monday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 11.44% from the company’s current price.
The analysts wrote, “We are raising our target price on AMC Networks as we preview 3Q13 earnings and move ahead of consensus estimates for 4Q. Third-quarter results will likely focus on the Affiliate contribution as the Advertising contribution will likely be attributed, correctly or incorrectly, to ‘Breaking Bad.’ For 4Q13, stronger ratings and aggressive pricing tied to ‘Walking Dead’ lead our estimates higher. Our estimates for 2014 are lowered as the last season of ‘Mad Men’ is split into two years (with an increase to 2015) but operationally the move allows for additional lead-in opportunities for new programs. Our new target is $78.”
AMC Networks (NASDAQ:AMCX) traded up 1.37% during mid-day trading on Monday, hitting $70.95. 452,105 shares of the company’s stock traded hands. AMC Networks has a 1-year low of $44.99 and a 1-year high of $72.46. The stock’s 50-day moving average is $65.7 and its 200-day moving average is $65.61. The company has a market cap of $5.128 billion and a price-to-earnings ratio of 20.31.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 8th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $1.09. The company had revenue of $379.30 million for the quarter, compared to the consensus estimate of $368.08 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. Analysts expect that AMC Networks will post $3.27 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Maxim Group raised their price target on shares of AMC Networks from $78.00 to $84.00 in a research note to investors on Tuesday, October 15th. They now have a “buy” rating on the stock. Separately, analysts at Hanson initiated coverage on shares of AMC Networks in a research note to investors on Monday, October 14th. They set a “buy” rating and a $76.00 price target on the stock. Finally, analysts at Ned Davis Research downgraded shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note to investors on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. AMC Networks has a consensus rating of “Buy” and an average target price of $74.58.
AMC Networks Inc (NASDAQ:AMCX) is a holding company and conducts substantially all of its operations through its subsidiaries.
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