AMC Networks Given New $80.00 Price Target at Maxim Group (AMCX)
Equities researchers at Maxim Group reduced their price target on shares of AMC Networks (NASDAQ:AMCX) from $90.00 to $80.00 in a research report issued on Friday. The firm currently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 37.22% from the stock’s previous close.
Shares of AMC Networks (NASDAQ:AMCX) opened at 58.30 on Friday. AMC Networks has a 52 week low of $53.99 and a 52 week high of $78.39. The stock’s 50-day moving average is $61.39 and its 200-day moving average is $65.74. The company has a market cap of $4.202 billion and a price-to-earnings ratio of 14.12.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 7th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was up 37.6% on a year-over-year basis. Analysts expect that AMC Networks will post $3.93 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of AMC Networks in a research note on Friday, May 16th. They now have a $70.00 price target on the stock, down previously from $83.00. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $76.37.
AMC Networks Inc (NASDAQ:AMCX) is a holding company and conducts substantially all of its operations through its subsidiaries.
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