AMC Networks Inc. (AMCX) Forecasted to Post Q3 2016 Earnings of $1.02 Per Share
AMC Networks Inc. (NASDAQ:AMCX) – Investment analysts at Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for shares of AMC Networks in a report released on Monday. Jefferies Group analyst J. Janedis now anticipates that the firm will post earnings per share of $1.02 for the quarter, down from their previous estimate of $1.10. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for AMC Networks’ FY2016 earnings at $5.60 EPS, Q3 2017 earnings at $1.12 EPS and FY2018 earnings at $6.54 EPS.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.28 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.28. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The firm had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis.
AMCX has been the topic of a number of other reports. Albert Fried & Company restated a “buy” rating and set a $97.00 target price on shares of AMC Networks in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded shares of AMC Networks from a “hold” rating to a “sell” rating in a research report on Monday. Guggenheim restated a “buy” rating and set a $66.00 target price (down from $77.00) on shares of AMC Networks in a research report on Tuesday. TheStreet downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Loop Capital restated a “hold” rating and set a $60.00 target price on shares of AMC Networks in a research report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.13.
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Shares of AMC Networks (NASDAQ:AMCX) traded down 2.089% on Tuesday, reaching $50.395. 182,280 shares of the company were exchanged. AMC Networks has a 12 month low of $49.93 and a 12 month high of $83.78. The stock has a 50 day moving average price of $52.64 and a 200-day moving average price of $59.06. The stock has a market capitalization of $3.60 billion, a P/E ratio of 10.492 and a beta of 0.84.
Several large investors have recently bought and sold shares of the company. Glenmede Trust Co. NA increased its stake in 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. Ngam Advisors L.P. increased its stake in 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. Teachers Advisors Inc. increased its stake in 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. 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 in the last quarter. Finally, BlackRock Inc. increased its stake in AMC Networks by 107.6% in the first quarter. BlackRock Inc. now owns 44,967 shares of the company’s stock worth $2,920,000 after buying an additional 23,311 shares in the last quarter. 83.72% of the stock is owned by 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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