According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “
Several other research analysts have also recently issued reports on AMCX. Sanford C. Bernstein reaffirmed a market perform rating on shares of AMC Networks in a research report on Friday, June 17th. Morgan Stanley cut AMC Networks from an overweight rating to an equal weight rating and cut their price objective for the stock from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Albert Fried & Company reissued a buy rating and issued a $97.00 price objective on shares of AMC Networks in a research report on Wednesday, June 22nd. TheStreet cut AMC Networks from a buy rating to a hold rating in a research report on Wednesday, June 29th. Finally, Jefferies Group cut their price objective on AMC Networks from $72.00 to $67.00 and set a hold rating on the stock in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. AMC Networks currently has an average rating of Buy and an average target price of $73.13.
AMC Networks (NASDAQ:AMCX) traded down 1.7820% on Monday, reaching $50.5528. The company’s stock had a trading volume of 115,337 shares. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 10.5253 and a beta of 0.84. AMC Networks has a 12 month low of $49.93 and a 12 month high of $83.78. The firm has a 50 day moving average of $52.64 and a 200 day moving average of $59.06.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.28. The company had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. AMC Networks’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Analysts anticipate that AMC Networks will post $5.56 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in AMCX. Renaissance Technologies LLC purchased a new position in shares of AMC Networks during the first quarter valued at approximately $27,119,000. BlackRock Institutional Trust Company N.A. raised its position in shares of AMC Networks by 16.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,033,378 shares of the company’s stock valued at $132,048,000 after buying an additional 294,128 shares during the period. Ameriprise Financial Inc. raised its position in shares of AMC Networks by 143.4% in the second quarter. Ameriprise Financial Inc. now owns 456,446 shares of the company’s stock valued at $27,578,000 after buying an additional 268,879 shares during the period. GMT Capital Corp purchased a new position in shares of AMC Networks during the second quarter valued at approximately $15,951,000. Finally, Prudential Financial Inc. raised its position in shares of AMC Networks by 628.0% in the first quarter. Prudential Financial Inc. now owns 300,473 shares of the company’s stock valued at $19,513,000 after buying an additional 259,200 shares during the period. Hedge funds and other institutional investors own 83.72% of the company’s stock.
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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