AMC Networks Inc. (AMCX) Receives Average Rating of “Buy” from Brokerages
Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned an average rating of “Buy” from the twenty-two research firms that are covering the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $72.37.
Several equities research analysts recently weighed in on the company. Jefferies Group restated a “hold” rating on shares of AMC Networks in a research note on Monday, September 12th. Albert Fried & Company restated a “buy” rating and set a $97.00 target price on shares of AMC Networks in a research note on Wednesday, June 22nd. Zacks Investment Research cut AMC Networks from a “hold” rating to a “sell” rating in a research note on Monday. Guggenheim restated a “buy” rating and set a $66.00 target price (down previously from $77.00) on shares of AMC Networks in a research note on Tuesday. Finally, TheStreet cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
Shares of AMC Networks (NASDAQ:AMCX) traded down 1.96% during midday trading on Tuesday, hitting $50.46. 175,260 shares of the stock were exchanged. The firm has a 50 day moving average of $52.64 and a 200-day moving average of $59.06. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 10.51 and a beta of 0.84. AMC Networks has a one year low of $49.93 and a one year high of $83.78.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business earned $685 million during the quarter, compared to the consensus estimate of $676.87 million. During the same period in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts expect that AMC Networks will post $5.56 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its stake in AMC Networks by 990.7% in the first quarter. Glenmede Trust Co. NA now owns 4,701 shares of the company’s stock valued at $304,000 after buying an additional 4,270 shares during the period. Ngam Advisors L.P. raised its stake in AMC Networks by 14.0% in the first quarter. Ngam Advisors L.P. now owns 42,628 shares of the company’s stock valued at $2,768,000 after buying an additional 5,227 shares during the period. Teachers Advisors Inc. raised its stake in AMC Networks by 13.8% in the first quarter. Teachers Advisors Inc. now owns 420,248 shares of the company’s stock valued at $27,291,000 after buying an additional 50,806 shares during the period. Prudential Financial Inc. raised 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 valued at $19,513,000 after buying an additional 259,200 shares during the period. Finally, BlackRock Inc. raised its stake in AMC Networks by 107.6% in the first quarter. BlackRock Inc. now owns 44,967 shares of the company’s stock valued at $2,920,000 after buying an additional 23,311 shares during the period. 83.72% of the stock is currently owned by 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.
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