Q3 2017 EPS Estimates for AMC Networks Inc. Lifted by KeyCorp (NASDAQ:AMCX)
AMC Networks Inc. (NASDAQ:AMCX) – Analysts at KeyCorp increased their Q3 2017 earnings per share estimates for shares of AMC Networks in a report released on Thursday. KeyCorp analyst A. Hargreaves now anticipates that the company will earn $1.35 per share for the quarter, up from their previous estimate of $1.32. KeyCorp also issued estimates for AMC Networks’ Q4 2017 earnings at $1.74 EPS, FY2017 earnings at $7.08 EPS, Q1 2018 earnings at $2.08 EPS, Q4 2018 earnings at $1.72 EPS and FY2018 earnings at $6.45 EPS.
AMCX has been the topic of several other research reports. BidaskClub raised AMC Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Deutsche Bank AG decreased their price objective on AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, May 8th. Zacks Investment Research raised AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Thursday, July 13th. TheStreet raised AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Finally, Moffett Nathanson reissued a “sell” rating on shares of AMC Networks in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $61.25.
Shares of AMC Networks (NASDAQ:AMCX) opened at 62.26 on Monday. AMC Networks has a 52-week low of $46.17 and a 52-week high of $67.61. The company’s 50 day moving average price is $57.26 and its 200 day moving average price is $57.06. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 15.13 and a beta of 1.06.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.47. The business had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 EPS.
A number of institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of AMC Networks during the first quarter valued at about $194,000. World Asset Management Inc acquired a new position in shares of AMC Networks during the first quarter valued at about $232,000. Wrapmanager Inc. acquired a new position in shares of AMC Networks during the first quarter valued at about $233,000. Greenwood Capital Associates LLC increased its position in shares of AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock valued at $234,000 after buying an additional 167 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in shares of AMC Networks during the first quarter valued at about $243,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
AMC Networks declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 13.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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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