Brokerages expect that AMC Networks Inc. (NASDAQ:AMCX) will post $653.56 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for AMC Networks’ earnings, with estimates ranging from $648.68 million to $656.20 million. AMC Networks posted sales of $634.65 million in the same quarter last year, which suggests a positive year over year growth rate of 3%. The company is expected to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that AMC Networks will report full-year sales of $653.56 million for the current financial year, with estimates ranging from $2.83 billion to $2.89 billion. For the next financial year, analysts expect that the company will post sales of $2.96 billion per share, with estimates ranging from $2.86 billion to $3.04 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for AMC Networks.
AMC Networks (NASDAQ:AMCX) last posted 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. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The company had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. During the same period last year, the business earned $1.15 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis.
AMCX has been the topic of several analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $60.00 target price on shares of AMC Networks in a report on Monday, July 10th. Deutsche Bank AG dropped their target price on AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a report on Monday, May 8th. Zacks Investment Research lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, April 21st. ValuEngine lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded AMC Networks from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AMC Networks presently has a consensus rating of “Hold” and a consensus price target of $61.25.
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Several institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of AMC Networks by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after buying an additional 181 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of AMC Networks during the first quarter worth $194,000. World Asset Management Inc raised its position in shares of AMC Networks by 0.3% in the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock worth $212,000 after buying an additional 12 shares during the period. Wrapmanager Inc. raised its position in shares of AMC Networks by 3.2% in the second quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock worth $219,000 after buying an additional 128 shares during the period. Finally, Greenwood Capital Associates LLC raised its position in shares of AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock worth $234,000 after buying an additional 167 shares during the period. Institutional investors own 81.89% of the company’s stock.
Shares of AMC Networks (NASDAQ AMCX) opened at 61.84 on Thursday. The stock’s 50 day moving average price is $58.47 and its 200-day moving average price is $57.32. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The stock has a market capitalization of $3.93 billion, a P/E ratio of 13.51 and a beta of 1.06.
AMC Networks declared that its Board of Directors has authorized a share buyback program on Wednesday, June 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 13.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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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