AMC Networks Inc. (AMCX) Sets New 12-Month Low Following Analyst Downgrade
AMC Networks Inc. (NASDAQ:AMCX) reached a new 52-week low on Wednesday after Guggenheim lowered their price target on the stock from $77.00 to $66.00. Guggenheim currently has a buy rating on the stock. AMC Networks traded as low as $49.67 and last traded at $50.02, with a volume of 168,205 shares traded. The stock had previously closed at $49.97.
A number of other equities research analysts have also weighed in on AMCX. Credit Agricole SA set a $89.00 target price on shares of AMC Networks and gave the stock a “buy” rating in a report on Saturday, September 17th. Zacks Investment Research lowered shares of AMC Networks from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Nomura reduced their target price on shares of AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 22nd. FBR & Co assumed coverage on shares of AMC Networks in a report on Thursday, October 6th. They set an “outperform” rating on the stock. Finally, Jefferies Group reduced their target price on shares of AMC Networks from $72.00 to $67.00 and set a “hold” rating on the stock in a report on Monday, July 11th. One 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 assigned a strong buy rating to the company’s stock. AMC Networks presently has an average rating of “Buy” and a consensus price target of $73.13.
Several hedge funds have recently made changes to their positions in the stock. Condor Capital Management increased its stake in shares of AMC Networks by 0.5% in the second quarter. Condor Capital Management now owns 10,537 shares of the company’s stock valued at $637,000 after buying an additional 49 shares in the last quarter. BB&T Securities LLC increased its stake in shares of AMC Networks by 1.4% in the second quarter. BB&T Securities LLC now owns 3,779 shares of the company’s stock valued at $228,000 after buying an additional 51 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of 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. Loomis Sayles & Co. L P increased its stake in shares of AMC Networks by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 26,593 shares of the company’s stock valued at $1,727,000 after buying an additional 94 shares in the last quarter. Finally, Utah Retirement Systems increased its stake in shares of AMC Networks by 0.9% in the second quarter. Utah Retirement Systems now owns 10,816 shares of the company’s stock valued at $654,000 after buying an additional 100 shares in the last quarter. Institutional investors own 83.72% of the company’s stock.
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The company’s 50 day moving average is $52.48 and its 200 day moving average is $59.00. The stock has a market capitalization of $3.57 billion, a P/E ratio of 10.42 and a beta of 0.84.
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, meeting the consensus estimate of $1.28. The business had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. Analysts expect that AMC Networks Inc. will post $5.56 EPS for the current year.
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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