AMC Networks Inc. (AMCX) Given Average Recommendation of “Hold” by Brokerages
AMC Networks Inc. (NASDAQ:AMCX) has earned an average recommendation of “Hold” from the twenty analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $65.22.
Several brokerages have recently issued reports on AMCX. Moffett Nathanson reaffirmed a “sell” rating on shares of AMC Networks in a report on Friday, June 9th. Jefferies Group LLC restated a “hold” rating and set a $65.00 price target on shares of AMC Networks in a report on Tuesday, September 12th. Zacks Investment Research lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. Finally, BidaskClub upgraded AMC Networks from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st.
Hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. increased its stake in AMC Networks by 138.5% in the second quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock worth $18,031,000 after purchasing an additional 196,030 shares during the period. Stephens Inc. AR purchased a new stake in AMC Networks in the first quarter worth $471,000. Oppenheimer & Co. Inc. increased its stake in AMC Networks by 31.9% in the first quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock worth $557,000 after purchasing an additional 2,300 shares during the period. Morgan Stanley increased its stake in AMC Networks by 73.9% in the first quarter. Morgan Stanley now owns 509,073 shares of the company’s stock worth $29,873,000 after purchasing an additional 216,261 shares during the period. Finally, UBS Oconnor LLC purchased a new stake in AMC Networks in the first quarter worth $4,923,000. Institutional investors and hedge funds own 84.99% of the company’s stock.
AMC Networks (NASDAQ:AMCX) traded up 3.81% on Friday, hitting $59.42. 1,220,473 shares of the company’s stock traded hands. The stock has a market cap of $3.78 billion, a P/E ratio of 12.98 and a beta of 1.09. The stock has a 50 day moving average price of $60.46 and a 200-day moving average price of $57.80. AMC Networks has a 12 month low of $46.17 and a 12 month high of $67.61.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.47. The business had revenue of $710.55 million for the quarter, compared to analysts’ expectations of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. Equities analysts predict that AMC Networks will post $6.67 earnings per share for the current fiscal year.
AMC Networks announced that its board has authorized a share repurchase program on Wednesday, June 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 13.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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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