AMC Networks Inc. (AMCX) Price Target Cut to $63.00 by Analysts at Nomura
AMC Networks Inc. (NASDAQ:AMCX) had its price objective cut by analysts at Nomura from $70.00 to $63.00 in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Nomura’s target price would suggest a potential upside of 22.52% from the stock’s previous close.
Other research analysts have also issued reports about the stock. Credit Agricole SA set a $89.00 price objective on shares of AMC Networks and gave the stock a “buy” rating in a research note on Saturday, September 17th. Jefferies Group restated a “hold” rating on shares of AMC Networks in a research note on Monday, September 12th. Zacks Investment Research lowered shares of AMC Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Morgan Stanley lowered shares of AMC Networks from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Finally, TheStreet lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $75.50.
Shares of AMC Networks (NASDAQ:AMCX) traded down 2.10% on Thursday, reaching $50.34. 170,927 shares of the company’s stock were exchanged. AMC Networks has a 12 month low of $49.93 and a 12 month high of $83.78. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 10.48 and a beta of 0.93. The firm’s 50-day moving average price is $53.91 and its 200 day moving average price is $60.38.
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AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the consensus estimate of $1.28. The company had revenue of $685 million for the quarter, compared to analyst estimates of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. AMC Networks’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. Equities research analysts predict that AMC Networks will post $5.59 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. NN Investment Partners Holdings N.V. bought a new position in shares of AMC Networks during the first quarter valued at approximately $1,086,000. Columbia Partners L L C Investment Management bought a new position in shares of AMC Networks during the first quarter valued at approximately $5,656,000. BlackRock Japan Co. Ltd bought a new position in shares of AMC Networks during the first quarter valued at approximately $414,000. BlackRock Institutional Trust Company N.A. increased its position in shares of AMC Networks by 16.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,033,378 shares of the company’s stock valued at $132,048,000 after buying an additional 294,128 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of AMC Networks by 198.7% in the first quarter. BlackRock Group LTD now owns 124,378 shares of the company’s stock valued at $8,078,000 after buying an additional 82,741 shares during the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.
AMC Networks Company Profile
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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