Shares of AMC Networks Inc. (NASDAQ:AMCX) have been given a consensus rating of “Buy” by the twenty-two ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $72.37.
Several analysts recently issued reports on AMCX shares. Goldman Sachs Group Inc. cut their price target on AMC Networks from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Albert Fried & Company reaffirmed a “buy” rating on shares of AMC Networks in a research note on Tuesday, July 12th. Stifel Nicolaus cut their target price on AMC Networks from $89.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Credit Agricole SA set a $89.00 target price on AMC Networks and gave the company a “buy” rating in a research note on Saturday, September 17th. Finally, Nomura cut their target price on AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 22nd.
Shares of AMC Networks (NASDAQ:AMCX) opened at 48.58 on Tuesday. AMC Networks has a 12 month low of $47.18 and a 12 month high of $83.78. The stock has a 50 day moving average price of $52.00 and a 200 day moving average price of $58.74. The stock has a market capitalization of $3.47 billion, a P/E ratio of 10.11 and a beta of 0.84.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.28. The business had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. On average, analysts anticipate that AMC Networks will post $5.56 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new stake in AMC Networks during the first quarter worth about $27,119,000. BlackRock Institutional Trust Company N.A. boosted its stake in 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 worth $132,048,000 after buying an additional 294,128 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in AMC Networks by 143.4% in the second quarter. Ameriprise Financial Inc. now owns 456,446 shares of the company’s stock worth $27,578,000 after buying an additional 268,879 shares during the last quarter. GMT Capital Corp purchased a new stake in AMC Networks during the second quarter worth about $15,951,000. Finally, Prudential Financial Inc. boosted its stake in AMC Networks by 628.0% in the first quarter. Prudential Financial Inc. now owns 300,473 shares of the company’s stock worth $19,513,000 after buying an additional 259,200 shares during the last quarter. 83.72% 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. 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.
Receive News & Ratings for AMC Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.