AMC Networks Inc. (AMCX) Receives Average Rating of “Buy” from Brokerages
AMC Networks Inc. (NASDAQ:AMCX) has received a consensus recommendation of “Buy” from the twenty-two analysts that are presently covering the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $72.37.
AMCX has been the subject of a number of research reports. Morgan Stanley cut AMC Networks from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Albert Fried & Company reissued a “buy” rating and set a $76.00 price objective on shares of AMC Networks in a research report on Sunday, September 25th. Zacks Investment Research raised AMC Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. FBN Securities reaffirmed an “outperform” rating on shares of AMC Networks in a research report on Thursday, October 6th. Finally, Loop Capital assumed coverage on AMC Networks in a research report on Tuesday, August 9th. They issued a “hold” rating for the company.
AMC Networks (NASDAQ:AMCX) traded down 1.96% on Tuesday, reaching $50.46. The company’s stock had a trading volume of 175,260 shares. The firm has a market capitalization of $3.60 billion, a PE ratio of 10.51 and a beta of 0.84. AMC Networks has a 52 week low of $49.93 and a 52 week high of $83.78. The stock’s 50 day moving average is $52.64 and its 200-day moving average is $59.06.
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AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.28. The firm 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%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share. Analysts predict that AMC Networks will post $5.56 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA increased 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 valued at $304,000 after buying an additional 4,270 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of AMC Networks during the first quarter valued at approximately $27,119,000. Geode Capital Management LLC increased its position in shares of AMC Networks by 4.8% in the first quarter. Geode Capital Management LLC now owns 386,935 shares of the company’s stock valued at $25,127,000 after buying an additional 17,710 shares during the last quarter. State Street Corp increased its position in shares of AMC Networks by 1.1% in the first quarter. State Street Corp now owns 1,592,497 shares of the company’s stock valued at $103,407,000 after buying an additional 17,780 shares during the last quarter. Finally, UBS Group AG increased its position in shares of AMC Networks by 167.8% in the first quarter. UBS Group AG now owns 32,514 shares of the company’s stock valued at $2,111,000 after buying an additional 20,371 shares during the last quarter. Institutional investors own 83.72% 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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