$1.14 EPS Expected for AMC Networks Inc. (NASDAQ:AMCX) This Quarter
Brokerages expect that AMC Networks Inc. (NASDAQ:AMCX) will announce $1.14 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for AMC Networks’ earnings. The highest EPS estimate is $1.35 and the lowest is $0.91. AMC Networks posted earnings per share of $1.01 in the same quarter last year, which would indicate a positive year over year growth rate of 12.9%. The company is expected to report its next earnings report on Thursday, November 2nd.
On average, analysts expect that AMC Networks will report full year earnings of $6.57 per share for the current fiscal year, with EPS estimates ranging from $6.26 to $7.08. For the next fiscal year, analysts anticipate that the company will post earnings of $6.79 per share, with EPS estimates ranging from $5.83 to $7.65. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for AMC Networks.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The company had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. During the same quarter in the prior year, the business posted $1.15 EPS. AMC Networks’s quarterly revenue was up 3.8% on a year-over-year basis.
A number of brokerages recently weighed in on AMCX. Jefferies Group LLC restated a “hold” rating and set a $65.00 target price on shares of AMC Networks in a report on Friday. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. BidaskClub upgraded shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Finally, Moffett Nathanson restated 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 given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.25.
AMC Networks (AMCX) opened at 62.50 on Tuesday. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of 15.18 and a beta of 1.06. The company has a 50-day moving average of $57.26 and a 200-day moving average of $57.06. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61.
AMC Networks announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of AMC Networks by 3,894.6% in the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock worth $296,245,000 after buying an additional 4,922,108 shares during the last quarter. Omega Advisors Inc. purchased a new stake in AMC Networks during the first quarter valued at $48,850,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in AMC Networks by 1,500.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 670,360 shares of the company’s stock valued at $39,337,000 after buying an additional 628,484 shares in the last quarter. Boston Partners purchased a new stake in AMC Networks during the second quarter valued at $20,311,000. Finally, Bank of Montreal Can boosted its stake in AMC Networks by 460.3% in the second quarter. Bank of Montreal Can now owns 396,236 shares of the company’s stock valued at $21,163,000 after buying an additional 325,515 shares in the last quarter. 81.89% of the stock is owned by institutional investors.
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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