AMC Networks Inc. (NASDAQ:AMCX) Set to Announce Quarterly Earnings on Wednesday
AMC Networks Inc. (NASDAQ:AMCX) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, August 2nd. Analysts expect the company to announce earnings of $1.42 per share for the quarter.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.10. AMC Networks had a return on equity of 502.40% and a net margin of 10.59%. The firm 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 company posted $2.09 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, analysts expect AMC Networks to post $6.40 EPS for the current fiscal year and $6.85 EPS for the next fiscal year.
AMC Networks Inc. (NASDAQ:AMCX) opened at 61.96 on Wednesday. The firm’s 50-day moving average price is $55.58 and its 200 day moving average price is $56.69. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 15.05 and a beta of 1.03. AMC Networks Inc. has a 1-year low of $46.17 and a 1-year high of $67.61.
AMC Networks announced that its board has initiated a stock buyback plan on Wednesday, June 7th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several analysts recently issued reports on the company. Moffett Nathanson restated a “sell” rating on shares of AMC Networks in a research note on Friday, June 9th. Zacks Investment Research downgraded AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 14th. BidaskClub upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies downgraded AMC Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, April 10th. Finally, Guggenheim reiterated a “buy” rating and set a $70.00 target price on shares of AMC Networks in a research report on Tuesday, March 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. AMC Networks presently has an average rating of “Hold” and an average price target of $61.79.
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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. 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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