AMC Networks Inc. (AMCX) PT Lowered to $66.00
AMC Networks Inc. (NASDAQ:AMCX) had its price target reduced by research analysts at Guggenheim from $77.00 to $66.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 28.23% from the stock’s current price.
A number of other equities analysts have also recently commented on AMCX. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of AMC Networks in a research report on Friday, June 17th. Morgan Stanley cut shares of AMC Networks from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Albert Fried & Company reaffirmed a “buy” rating and set a $97.00 price objective on shares of AMC Networks in a research report on Wednesday, June 22nd. Zacks Investment Research cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Finally, TheStreet cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $73.13.
Shares of AMC Networks (NASDAQ:AMCX) traded down 2.84% during midday trading on Tuesday, hitting $50.01. 261,950 shares of the company were exchanged. AMC Networks has a one year low of $49.93 and a one year high of $83.78. The company has a market capitalization of $3.57 billion, a P/E ratio of 10.41 and a beta of 0.84. The company has a 50-day moving average of $52.64 and a 200 day moving average of $59.06.
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AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting 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 business 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 company earned $1.14 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts expect that AMC Networks will post $5.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its position in AMC Networks by 3.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,472 shares of the company’s stock valued at $1,114,000 after buying an additional 622 shares in the last quarter. Bremer Trust National Association purchased a new position in AMC Networks during the third quarter valued at about $574,000. Northwestern Mutual Investment Management Company LLC increased its position in AMC Networks by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,564 shares of the company’s stock valued at $638,000 after buying an additional 56 shares in the last quarter. Mason Street Advisors LLC purchased a new position in AMC Networks during the second quarter valued at about $1,686,000. Finally, IFP Advisors Inc increased its position in AMC Networks by 5.6% in the second quarter. IFP Advisors Inc now owns 9,788 shares of the company’s stock valued at $591,000 after buying an additional 516 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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