Analysts Expect AMC Networks Inc. (AMCX) Will Post Quarterly Sales of $653.56 Million
Brokerages forecast that AMC Networks Inc. (NASDAQ:AMCX) will report $653.56 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for AMC Networks’ earnings, with the highest sales estimate coming in at $656.20 million and the lowest estimate coming in at $648.68 million. AMC Networks reported sales of $634.65 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that AMC Networks will report full year sales of $653.56 million for the current fiscal year, with estimates ranging from $2.83 billion to $2.89 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.96 billion per share, with estimates ranging from $2.86 billion to $3.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover AMC Networks.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.47. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The firm had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. During the same period last year, the company earned $1.15 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year.
AMCX has been the subject of several recent research reports. Jefferies Group LLC restated a “hold” rating and issued a $60.00 price objective on shares of AMC Networks in a report on Monday, July 10th. Zacks Investment Research raised shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Thursday, July 13th. BidaskClub upgraded shares of AMC Networks from a “sell” rating to a “hold” rating in a report on Friday, June 9th. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Finally, Cowen and Company reissued a “hold” rating and set a $53.00 target price on shares of AMC Networks in a research report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.82.
AMC Networks (NASDAQ:AMCX) opened at 58.52 on Wednesday. The stock has a market capitalization of $3.72 billion, a PE ratio of 12.79 and a beta of 1.06. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The stock’s 50 day moving average price is $59.04 and its 200 day moving average price is $57.74.
AMC Networks announced that its Board of Directors has authorized a stock repurchase program 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 programs are usually an indication that the company’s board believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of AMCX. RNC Capital Management LLC grew its stake in shares of AMC Networks by 4.5% during the second quarter. RNC Capital Management LLC now owns 4,662 shares of the company’s stock worth $249,000 after acquiring an additional 200 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of AMC Networks during the second quarter valued at about $813,000. Dean Capital Management acquired a new position in shares of AMC Networks during the second quarter valued at about $3,605,000. Nomura Holdings Inc. increased its holdings in shares of AMC Networks by 265.7% during the second quarter. Nomura Holdings Inc. now owns 23,868 shares of the company’s stock valued at $1,278,000 after acquiring an additional 17,341 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of AMC Networks during the second quarter valued at about $153,000. 84.99% of the stock is owned by institutional investors and hedge funds.
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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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