AMC Networks Given Average Recommendation of “Buy” by Analysts (NASDAQ:AMCX)
AMC Networks (NASDAQ:AMCX) has received a consensus recommendation of “Buy” from the twenty-three ratings firms that are presently covering the company, AnalystRatingsNetwork.com reports. Nine investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $76.37.
Shares of AMC Networks (NASDAQ:AMCX) traded up 1.18% during mid-day trading on Friday, hitting $58.99. The stock had a trading volume of 97,626 shares. AMC Networks has a 52 week low of $53.99 and a 52 week high of $78.39. The stock has a 50-day moving average of $61.39 and a 200-day moving average of $65.74. The company has a market cap of $4.252 billion and a price-to-earnings ratio of 14.12.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.83 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.85 by $0.02. The company had revenue of $522.10 million for the quarter, compared to the consensus estimate of $514.30 million. During the same quarter last year, the company posted $1.87 earnings per share. AMC Networks’s revenue was up 37.6% compared to the same quarter last year. On average, analysts predict that AMC Networks will post $3.93 earnings per share for the current fiscal year.
AMCX has been the subject of a number of recent research reports. Analysts at Maxim Group cut their price target on shares of AMC Networks from $90.00 to $80.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at MoffettNathanson downgraded shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $67.00 price target on the stock, down previously from $72.00. Finally, analysts at Hanson downgraded shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 4th. They now have a $67.00 price target on the stock, down previously from $72.00.
AMC Networks Inc (NASDAQ:AMCX) is a holding company and conducts substantially all of its operations through its subsidiaries.
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