Q4 2016 EPS Estimates for AMC Networks Inc. (AMCX) Cut by Analyst
AMC Networks Inc. (NASDAQ:AMCX) – Research analysts at Jefferies Group lowered their Q4 2016 EPS estimates for AMC Networks in a report released on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings of $1.31 per share for the quarter, down from their previous estimate of $1.36. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for AMC Networks’ Q4 2017 earnings at $1.41 EPS and FY2017 earnings at $6.03 EPS.
Other research analysts also recently issued reports about the company. Credit Agricole SA set a $89.00 target price on AMC Networks and gave the company a “buy” rating in a research note on Saturday, September 17th. Zacks Investment Research downgraded AMC Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Morgan Stanley downgraded AMC Networks from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Guggenheim lowered their target price on AMC Networks from $77.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, TheStreet downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.13.
AMC Networks (NASDAQ:AMCX) traded up 0.24% on Wednesday, reaching $50.09. The company had a trading volume of 187,098 shares. The company’s 50-day moving average is $52.48 and its 200-day moving average is $59.00. The company has a market capitalization of $3.58 billion, a PE ratio of 10.43 and a beta of 0.84. AMC Networks has a 52-week low of $49.67 and a 52-week high of $83.78.
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AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.28. The business earned $685 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS.
Several large investors have recently made changes to their positions in the stock. I.G. Investment Management LTD. increased its stake in shares of AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock worth $108,000 after buying an additional 1,288 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of AMC Networks during the second quarter worth approximately $120,000. Acrospire Investment Management LLC increased its stake in shares of AMC Networks by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock worth $193,000 after buying an additional 2,400 shares in the last quarter. Wrapmanager Inc. increased its stake in shares of AMC Networks by 4.7% in the second quarter. Wrapmanager Inc. now owns 3,711 shares of the company’s stock worth $224,000 after buying an additional 168 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of AMC Networks during the second quarter worth approximately $225,000. 83.72% of the stock is owned by institutional investors and hedge funds.
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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