Jefferies Group Weighs in on AMC Networks Inc.’s Q3 2017 Earnings (AMCX)
AMC Networks Inc. (NASDAQ:AMCX) – Analysts at Jefferies Group cut their Q3 2017 EPS estimates for AMC Networks in a note issued to investors on Thursday. Jefferies Group analyst J. Janedis now anticipates that the company will earn $0.91 per share for the quarter, down from their prior estimate of $1.12. Jefferies Group currently has a “Hold” rating and a $65.00 target price on the stock. Jefferies Group also issued estimates for AMC Networks’ Q4 2017 earnings at $1.49 EPS, Q1 2018 earnings at $2.05 EPS, Q2 2018 earnings at $1.68 EPS, Q4 2018 earnings at $1.71 EPS, FY2018 earnings at $6.51 EPS, Q1 2019 earnings at $2.26 EPS, Q2 2019 earnings at $1.85 EPS, FY2019 earnings at $7.17 EPS, FY2020 earnings at $7.95 EPS and FY2021 earnings at $8.30 EPS.
A number of other equities analysts also recently weighed in on AMCX. TheStreet raised shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. BidaskClub raised shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Moffett Nathanson reaffirmed a “sell” rating on shares of AMC Networks in a research note on Friday, June 9th. Zacks Investment Research raised shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, July 13th. Finally, Piper Jaffray Companies downgraded shares of AMC Networks from an “overweight” rating to a “neutral” rating in a research note on Monday, April 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. AMC Networks presently has a consensus rating of “Hold” and an average price target of $61.25.
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AMC Networks (AMCX) opened at 62.26 on Monday. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The firm has a market cap of $4.15 billion, a P/E ratio of 15.13 and a beta of 1.06. The firm’s 50-day moving average price is $57.26 and its 200-day moving average price is $57.06.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.47. The business had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 EPS.
A number of large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of AMC Networks by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 275,966 shares of the company’s stock valued at $14,445,000 after buying an additional 783 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of AMC Networks by 35.8% in the first quarter. Bank of Montreal Can now owns 70,721 shares of the company’s stock valued at $4,150,000 after buying an additional 18,642 shares in the last quarter. American National Bank boosted its stake in shares of AMC Networks by 22.6% in the first quarter. American National Bank now owns 33,134 shares of the company’s stock valued at $1,945,000 after buying an additional 6,108 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of AMC Networks during the first quarter valued at about $692,000. Finally, Reliance Trust Co. of Delaware boosted its stake in shares of AMC Networks by 13.7% in the first quarter. Reliance Trust Co. of Delaware now owns 6,753 shares of the company’s stock valued at $396,000 after buying an additional 816 shares in the last quarter. Institutional investors own 81.89% of the company’s stock.
AMC Networks announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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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