AMC Networks’ (AMCX) Outperform Rating Reiterated at FBN Securities
AMC Networks Inc. (NASDAQ:AMCX)‘s stock had its “outperform” rating reiterated by research analysts at FBN Securities in a note issued to investors on Thursday.
Several other equities research analysts also recently commented on AMCX. Credit Agricole SA set a $89.00 price objective on AMC Networks and gave the company a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research downgraded AMC Networks from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Nomura decreased their price objective on AMC Networks from $70.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, September 22nd. Jefferies Group decreased their price objective on AMC Networks from $72.00 to $67.00 and set a “hold” rating for the company in a report on Monday, July 11th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a report on Friday, June 17th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. AMC Networks has an average rating of “Buy” and a consensus price target of $73.53.
Shares of AMC Networks (NASDAQ:AMCX) traded down 1.90% during midday trading on Thursday, reaching $51.52. The company’s stock had a trading volume of 518,143 shares. The stock has a market cap of $3.68 billion, a PE ratio of 10.73 and a beta of 0.84. The firm has a 50-day moving average of $52.77 and a 200-day moving average of $59.23. AMC Networks has a one year low of $49.93 and a one year high of $83.78.
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AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate 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 analyst estimates of $676.87 million. During the same period in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. On average, analysts forecast that AMC Networks will post $5.56 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA boosted its position in shares of AMC Networks by 990.7% in the first quarter. Glenmede Trust Co. NA now owns 4,701 shares of the company’s stock worth $304,000 after buying an additional 4,270 shares in the last quarter. Virginia Retirement System purchased a new position in shares of AMC Networks during the first quarter worth approximately $1,520,000. Ngam Advisors L.P. boosted its position in shares of AMC Networks by 14.0% in the first quarter. Ngam Advisors L.P. now owns 42,628 shares of the company’s stock worth $2,768,000 after buying an additional 5,227 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of AMC Networks by 16.9% in the first quarter. TIAA CREF Investment Management LLC now owns 1,144,478 shares of the company’s stock worth $74,322,000 after buying an additional 165,047 shares in the last quarter. Finally, Teachers Advisors Inc. boosted its position in shares of AMC Networks by 13.8% in the first quarter. Teachers Advisors Inc. now owns 420,248 shares of the company’s stock worth $27,291,000 after buying an additional 50,806 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
About AMC Networks
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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