Nomura Cuts AMC Networks Inc. (AMCX) Price Target to $63.00
AMC Networks Inc. (NASDAQ:AMCX) had its price target reduced by stock analysts at Nomura from $70.00 to $63.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the stock. Nomura’s price target suggests a potential upside of 22.52% from the company’s current price.
A number of other equities analysts also recently weighed in on AMCX. TheStreet upgraded AMC Networks to a “buy” rating in a research note on Thursday, May 26th. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a research note on Friday, June 17th. Morgan Stanley downgraded AMC Networks from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Albert Fried & Company restated a “buy” rating and issued a $97.00 target price on shares of AMC Networks in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $75.50.
Shares of AMC Networks (NASDAQ:AMCX) traded down 2.04% during trading on Thursday, hitting $50.37. The stock had a trading volume of 166,426 shares. The company’s 50 day moving average price is $53.91 and its 200 day moving average price is $60.38. AMC Networks has a 52 week low of $49.93 and a 52 week high of $83.78. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 10.49 and a beta of 0.93.
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AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The firm had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Analysts predict that AMC Networks will post $5.59 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. I.G. Investment Management LTD. raised its position in shares of AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock valued at $108,000 after buying an additional 1,288 shares during the period. Advisor Group Inc. bought a new position in shares of AMC Networks during the second quarter valued at about $120,000. Acrospire Investment Management LLC raised its position in shares of AMC Networks by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock valued at $193,000 after buying an additional 2,400 shares during the period. Wrapmanager Inc. raised its position in shares of AMC Networks by 6.2% in the first quarter. Wrapmanager Inc. now owns 3,543 shares of the company’s stock valued at $230,000 after buying an additional 206 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of AMC Networks during the first quarter valued at about $243,000. Institutional investors own 83.71% of the company’s stock.
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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