AMC Networks Inc. Expected to Earn Q2 2017 Earnings of $1.46 Per Share (NASDAQ:AMCX)
AMC Networks Inc. (NASDAQ:AMCX) – Equities research analysts at KeyCorp issued their Q2 2017 earnings per share (EPS) estimates for shares of AMC Networks in a research note issued on Tuesday. KeyCorp analyst A. Hargreaves anticipates that the company will post earnings per share of $1.46 for the quarter. KeyCorp also issued estimates for AMC Networks’ Q3 2017 earnings at $1.32 EPS, Q4 2017 earnings at $1.68 EPS, FY2017 earnings at $6.56 EPS and FY2018 earnings at $6.49 EPS.
AMC Networks (NASDAQ:AMCX) last posted its earnings results on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.10. AMC Networks had a net margin of 10.59% and a return on equity of 502.40%. The company had revenue of $720.19 million during the quarter, compared to analysts’ expectations of $720.15 million. During the same quarter in the previous year, the company posted $2.09 earnings per share. AMC Networks’s quarterly revenue was up 1.9% compared to the same quarter last year.
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AMCX has been the topic of several other research reports. Zacks Investment Research lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, April 14th. Deutsche Bank AG reduced their price target on shares of AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a research report on Monday, May 8th. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of AMC Networks in a research report on Tuesday, March 28th. BidaskClub upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies lowered shares of AMC Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, April 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $61.79.
AMC Networks (NASDAQ:AMCX) opened at 61.10 on Friday. The stock has a 50 day moving average of $55.15 and a 200-day moving average of $56.59. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The company has a market cap of $4.07 billion, a PE ratio of 14.84 and a beta of 1.03.
AMC Networks declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 13.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently made changes to their positions in AMCX. Opera Trading Capital purchased a new position in shares of AMC Networks during the second quarter worth $1,602,000. Oakbrook Investments LLC purchased a new position in shares of AMC Networks during the second quarter worth $237,000. Tealwood Asset Management Inc. increased its position in shares of AMC Networks by 15.3% in the second quarter. Tealwood Asset Management Inc. now owns 44,964 shares of the company’s stock worth $2,402,000 after buying an additional 5,975 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of AMC Networks by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the company’s stock worth $769,000 after buying an additional 200 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of AMC Networks by 15.0% in the second quarter. LS Investment Advisors LLC now owns 4,376 shares of the company’s stock worth $234,000 after buying an additional 572 shares in the last quarter. 82.10% of the stock is owned by institutional investors and hedge funds.
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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