AMC Networks Inc. (AMCX) Posts Quarterly Earnings Results
AMC Networks Inc. (NASDAQ:AMCX) issued its earnings results on Thursday. The company reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.53, Bloomberg Earnings reports. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The business had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $660.79 million. During the same period in the prior year, the business earned $1.11 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year.
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AMCX has been the subject of several research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $60.00 target price on shares of AMC Networks in a report on Monday, July 10th. BidaskClub upgraded AMC Networks from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Thursday, July 13th. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $59.07.
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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