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. “
A number of other research analysts have also recently weighed in on AMCX. Gabelli reaffirmed a buy rating on shares of Amc Networks in a research note on Tuesday, June 11th. ValuEngine cut shares of Amc Networks from a sell rating to a strong sell rating in a research note on Monday, July 22nd. Wolfe Research raised shares of Amc Networks from an underperform rating to a peer perform rating in a research note on Tuesday, July 30th. Finally, BidaskClub cut shares of Amc Networks from a sell rating to a strong sell rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Amc Networks presently has an average rating of Hold and a consensus target price of $60.20.
Amc Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.65. Amc Networks had a net margin of 15.04% and a return on equity of 127.16%. The business had revenue of $772.30 million during the quarter, compared to analysts’ expectations of $783.03 million. During the same period last year, the company posted $1.93 EPS. The company’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts expect that Amc Networks will post 8.62 earnings per share for the current year.
In other Amc Networks news, CFO Sean S. Sullivan sold 27,232 shares of Amc Networks stock in a transaction on Monday, June 10th. The shares were sold at an average price of $54.61, for a total value of $1,487,139.52. Following the transaction, the chief financial officer now owns 40,090 shares in the company, valued at approximately $2,189,314.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP James Gallagher sold 5,000 shares of Amc Networks stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $54.61, for a total transaction of $273,050.00. Following the completion of the transaction, the executive vice president now owns 15,689 shares in the company, valued at approximately $856,776.29. The disclosure for this sale can be found here. 21.29% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont acquired a new position in shares of Amc Networks in the 2nd quarter valued at $27,000. TRUE Private Wealth Advisors acquired a new position in shares of Amc Networks in the 2nd quarter valued at $29,000. Advisors Preferred LLC acquired a new position in shares of Amc Networks during the 1st quarter valued at $74,000. Icon Wealth Partners LLC acquired a new position in shares of Amc Networks during the 1st quarter valued at $79,000. Finally, Bremer Bank National Association acquired a new position in shares of Amc Networks during the 1st quarter valued at $92,000. Institutional investors own 93.65% of the company’s stock.
Amc Networks Company Profile
AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.
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