Zacks: Analysts Anticipate AMC Networks Inc. (AMCX) Will Post Quarterly Sales of $656.30 Million
Wall Street brokerages forecast that AMC Networks Inc. (NASDAQ:AMCX) will announce $656.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for AMC Networks’ earnings. The highest sales estimate is $664.30 million and the lowest is $648.68 million. AMC Networks reported sales of $634.65 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The firm is scheduled to report its next earnings report before the market opens on Thursday, November 2nd.
On average, analysts expect that AMC Networks will report full year sales of $656.30 million for the current financial year, with estimates ranging from $2.83 billion to $2.89 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.96 billion per share, with estimates ranging from $2.86 billion to $3.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover AMC Networks.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results 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. The firm had revenue of $710.55 million during the quarter, compared to analysts’ expectations of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. AMC Networks’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS.
AMCX has been the subject of several recent research reports. Jefferies Group LLC reiterated a “hold” rating and set a $60.00 target price on shares of AMC Networks in a research note on Monday, July 10th. BidaskClub upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Thursday, July 13th. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $59.33.
Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in shares of AMC Networks by 24.4% during the second quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after acquiring an additional 414 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AMC Networks by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of AMC Networks during the second quarter worth about $153,000. Riverhead Capital Management LLC grew its position in shares of AMC Networks by 69.9% during the second quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock worth $172,000 after acquiring an additional 1,328 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of AMC Networks by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock worth $175,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 84.94% of the company’s stock.
Shares of AMC Networks (NASDAQ AMCX) opened at 56.36 on Monday. The company’s 50-day moving average is $57.81 and its 200-day moving average is $57.66. AMC Networks has a 52 week low of $46.17 and a 52 week high of $67.61. The firm has a market cap of $3.58 billion, a PE ratio of 12.31 and a beta of 1.06.
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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