AMC Networks Inc. (AMCX) Given New $66.00 Price Target at Guggenheim
Other analysts have also issued reports about the stock. Credit Agricole SA set a $89.00 target price on shares of AMC Networks and gave the company a buy rating in a research report on Saturday, September 17th. Jefferies Group reiterated a hold rating on shares of AMC Networks in a research report on Monday, September 12th. Zacks Investment Research lowered shares of AMC Networks from a hold rating to a sell rating in a research report on Wednesday, July 13th. Morgan Stanley lowered shares of AMC Networks from an overweight rating to an equal weight rating and decreased their target price for the company from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Finally, TheStreet lowered shares of AMC Networks from a buy rating to a hold rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $73.13.
Shares of AMC Networks (NASDAQ:AMCX) traded up 0.190% on Tuesday, reaching $50.065. The company’s stock had a trading volume of 94,914 shares. The stock has a 50-day moving average of $52.48 and a 200 day moving average of $59.00. The stock has a market capitalization of $3.57 billion, a PE ratio of 10.424 and a beta of 0.84. AMC Networks has a 1-year low of $49.67 and a 1-year high of $83.78.
AMC Networks (NASDAQ:AMCX) last posted 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 company had revenue of $685 million for the quarter, compared to analyst estimates of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The business’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. On average, equities analysts forecast that AMC Networks will post $5.56 EPS for the current year.
A number of hedge funds have recently bought and sold shares of AMCX. Vanguard Group Inc. raised its position in shares of AMC Networks by 2.8% in the second quarter. Vanguard Group Inc. now owns 4,438,339 shares of the company’s stock valued at $268,163,000 after buying an additional 118,801 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of AMC Networks by 0.3% in the second quarter. Alliancebernstein L.P. now owns 3,903,122 shares of the company’s stock valued at $235,827,000 after buying an additional 12,565 shares during the last quarter. FMR LLC raised its position in shares of AMC Networks by 4.5% in the second quarter. FMR LLC now owns 3,295,553 shares of the company’s stock valued at $199,118,000 after buying an additional 142,682 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of AMC Networks by 4.9% in the second quarter. BlackRock Fund Advisors now owns 2,166,285 shares of the company’s stock valued at $130,887,000 after buying an additional 102,128 shares during the last quarter. Finally, 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 last quarter. 83.72% of the stock is currently 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.
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