AMC Networks Inc. (AMCX) to Post Q3 2016 Earnings of $1.07 Per Share, FBN Securities Forecasts
AMC Networks Inc. (NASDAQ:AMCX) – Stock analysts at FBN Securities issued their Q3 2016 earnings estimates for AMC Networks in a research note issued on Thursday. FBN Securities analyst R. Routh forecasts that the brokerage will earn $1.07 per share for the quarter. FBN Securities currently has a “Outperform” rating on the stock. FBN Securities also issued estimates for AMC Networks’ Q4 2016 earnings at $1.36 EPS, Q1 2017 earnings at $2.11 EPS, Q2 2017 earnings at $1.39 EPS, Q3 2017 earnings at $1.41 EPS, Q4 2017 earnings at $1.14 EPS, FY2017 earnings at $6.05 EPS, FY2018 earnings at $6.46 EPS, FY2019 earnings at $6.89 EPS and FY2020 earnings at $7.21 EPS.
Other analysts have also recently issued reports about the company. Goldman Sachs Group Inc. cut their price target on AMC Networks from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 5th. Albert Fried & Company reaffirmed a “buy” rating on shares of AMC Networks in a report on Tuesday, July 12th. Stifel Nicolaus dropped their price objective on AMC Networks from $89.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Credit Agricole SA set a $89.00 price objective on AMC Networks and gave the stock a “buy” rating in a report on Saturday, September 17th. Finally, Nomura dropped their price objective on AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 22nd. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $73.53.
AMC Networks (NASDAQ:AMCX) opened at 51.52 on Monday. The company has a 50-day moving average price of $52.77 and a 200-day moving average price of $59.23. AMC Networks has a 12-month low of $49.93 and a 12-month high of $83.78. The firm has a market cap of $3.68 billion, a PE ratio of 10.73 and a beta of 0.84.
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AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.28. The company earned $685 million during the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. AMC Networks’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS.
Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in AMC Networks during the first quarter worth about $27,119,000. BlackRock Institutional Trust Company N.A. increased its stake in 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 worth $132,048,000 after buying an additional 294,128 shares during the last quarter. Ameriprise Financial Inc. increased its stake in AMC Networks by 143.4% in the second quarter. Ameriprise Financial Inc. now owns 456,446 shares of the company’s stock worth $27,578,000 after buying an additional 268,879 shares during the last quarter. GMT Capital Corp bought a new stake in AMC Networks during the second quarter worth about $15,951,000. Finally, Prudential Financial Inc. increased its stake in AMC Networks by 628.0% in the first quarter. Prudential Financial Inc. now owns 300,473 shares of the company’s stock worth $19,513,000 after buying an additional 259,200 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.
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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