AMC Networks Inc (AMCX) Given Average Recommendation of “Hold” by Analysts
Shares of AMC Networks Inc (NASDAQ:AMCX) have earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $61.25.
Several research analysts have issued reports on the stock. Guggenheim cut shares of AMC Networks from a “buy” rating to a “neutral” rating in a report on Thursday. Wells Fargo & Company assumed coverage on shares of AMC Networks in a report on Tuesday. They set an “outperform” rating and a $72.00 target price on the stock. Cowen and Company reiterated a “hold” rating and set a $53.00 target price on shares of AMC Networks in a report on Thursday, September 21st. Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $65.00 target price on shares of AMC Networks in a report on Tuesday, September 12th.
Shares of AMC Networks (NASDAQ AMCX) traded down 6.158% on Thursday, reaching $54.175. 1,681,106 shares of the company were exchanged. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 11.836 and a beta of 1.06. 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 is $58.76 and its 200-day moving average is $57.79.
AMC Networks (NASDAQ:AMCX) last issued its earnings results 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. AMC Networks had a net margin of 15.15% and a return on equity of 1,346.40%. The company had revenue of $710.55 million for the quarter, compared to analysts’ expectations of $715.23 million. During the same period in the prior year, the business earned $1.15 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts expect that AMC Networks will post $6.67 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its position in shares of AMC Networks by 138.5% during the second quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock valued at $18,031,000 after buying an additional 196,030 shares during the last quarter. First Trust Advisors LP lifted its position in shares of AMC Networks by 353.3% during the second quarter. First Trust Advisors LP now owns 60,544 shares of the company’s stock valued at $3,234,000 after buying an additional 47,189 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of AMC Networks by 31.9% during the first quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock valued at $557,000 after buying an additional 2,300 shares during the last quarter. Morgan Stanley lifted its position in shares of AMC Networks by 73.9% during the first quarter. Morgan Stanley now owns 509,073 shares of the company’s stock valued at $29,873,000 after buying an additional 216,261 shares during the last quarter. Finally, UBS Oconnor LLC purchased a new stake in shares of AMC Networks during the first quarter valued at about $4,923,000. 84.99% of the stock is owned by institutional investors and hedge funds.
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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