AMC Networks Inc (AMCX) Receives Consensus Recommendation of “Hold” from Brokerages
AMC Networks Inc (NASDAQ:AMCX) has been given an average rating of “Hold” by the twenty brokerages that are covering the firm. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $65.15.
Several analysts have issued reports on the stock. Deutsche Bank AG cut their price target on shares of AMC Networks from $65.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, May 8th. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating and set a $68.00 price target for the company in a research report on Tuesday, April 25th. Piper Jaffray Companies lowered shares of AMC Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, April 10th. Guggenheim restated a “buy” rating and set a $70.00 price target on shares of AMC Networks in a research report on Tuesday, March 28th. Finally, Loop Capital restated a “hold” rating and set a $56.00 price target on shares of AMC Networks in a research report on Monday, February 27th.
AMC Networks (NASDAQ:AMCX) traded up 1.132% during midday trading on Monday, hitting $54.045. The company had a trading volume of 91,937 shares. The firm has a market capitalization of $3.60 billion, a P/E ratio of 13.130 and a beta of 1.01. The firm’s 50 day moving average is $58.15 and its 200-day moving average is $55.84. AMC Networks has a 52 week low of $46.17 and a 52 week high of $68.44.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.10. AMC Networks had a net margin of 12.80% and a return on equity of 408.71%. The business had revenue of $720.19 million during the quarter, compared to analyst estimates of $720.15 million. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that AMC Networks will post $6.34 EPS for the current fiscal year.
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In related news, EVP James Gallagher sold 4,000 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $58.75, for a total value of $235,000.00. Following the completion of the transaction, the executive vice president now directly owns 12,260 shares of the company’s stock, valued at $720,275. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.19% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in AMC Networks by 0.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,374 shares of the company’s stock worth $380,000 after buying an additional 45 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in AMC Networks by 1.7% in the third quarter. First Citizens Bank & Trust Co. now owns 4,385 shares of the company’s stock worth $227,000 after buying an additional 74 shares during the last quarter. Greenwood Capital Associates LLC increased its position in AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock worth $234,000 after buying an additional 167 shares during the last quarter. Thrivent Financial For Lutherans increased its position in AMC Networks by 3.7% in the first quarter. Thrivent Financial For Lutherans now owns 10,497 shares of the company’s stock worth $616,000 after buying an additional 370 shares during the last quarter. Finally, Capital One National Association increased its position in AMC Networks by 5.4% in the third quarter. Capital One National Association now owns 8,202 shares of the company’s stock worth $425,000 after buying an additional 421 shares during the last quarter. 81.97% of the stock is owned by institutional investors.
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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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