Brokers Set Expectations for AMC Networks Inc’s Q3 2017 Earnings (AMCX)
AMC Networks Inc (NASDAQ:AMCX) – Equities research analysts at Jefferies Group increased their Q3 2017 EPS estimates for shares of AMC Networks in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings of $1.16 per share for the quarter, up from their previous estimate of $0.91. Jefferies Group has a “Hold” rating and a $65.00 price target on the stock. Jefferies Group also issued estimates for AMC Networks’ Q4 2017 earnings at $1.63 EPS, Q1 2018 earnings at $2.19 EPS, Q3 2018 earnings at $1.32 EPS, Q4 2018 earnings at $1.83 EPS and FY2018 earnings at $7.18 EPS.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.47. The company 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 1,346.40% and a net margin of 15.15%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $1.15 earnings per share.
Several other equities analysts also recently issued reports on AMCX. Guggenheim downgraded AMC Networks from a “buy” rating to a “neutral” rating in a research report on Thursday. Wells Fargo & Company assumed coverage on AMC Networks in a research report on Tuesday. They issued an “outperform” rating and a $72.00 price objective for the company. BidaskClub upgraded AMC Networks from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Thursday, July 13th. Finally, TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.00.
AMC Networks (NASDAQ:AMCX) opened at 57.73 on Thursday. The stock’s 50 day moving average price is $58.76 and its 200-day moving average price is $57.79. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06. AMC Networks has a one year low of $46.17 and a one year high of $67.61.
A number of large investors have recently bought and sold shares of AMCX. First Trust Advisors LP acquired a new position in shares of AMC Networks during the first quarter worth about $784,000. UBS Asset Management Americas Inc. boosted its position in shares of AMC Networks by 27.0% during the first quarter. UBS Asset Management Americas Inc. now owns 48,536 shares of the company’s stock worth $2,848,000 after buying an additional 10,314 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of AMC Networks by 16.3% during the first quarter. Parametric Portfolio Associates LLC now owns 79,711 shares of the company’s stock worth $4,677,000 after buying an additional 11,163 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of AMC Networks by 19.5% during the first quarter. Envestnet Asset Management Inc. now owns 8,809 shares of the company’s stock worth $514,000 after buying an additional 1,435 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of AMC Networks by 83.6% during the first quarter. JPMorgan Chase & Co. now owns 164,803 shares of the company’s stock worth $9,670,000 after buying an additional 75,019 shares during the period. 84.99% of the stock is owned by hedge funds and other 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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