AMC Networks Inc. (AMCX) Sets New 12-Month Low Following Analyst Downgrade
AMC Networks Inc. (NASDAQ:AMCX) shares hit a new 52-week low during trading on Wednesday after Guggenheim lowered their price target on the stock from $77.00 to $66.00. Guggenheim currently has a buy rating on the stock. AMC Networks traded as low as $49.67 and last traded at $50.02, with a volume of 168,205 shares trading hands. The stock had previously closed at $49.97.
Several other research analysts have also issued reports on the stock. Morgan Stanley lowered shares of AMC Networks from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Stifel Nicolaus lowered shares of AMC Networks from a “buy” rating to a “hold” rating and dropped their price target for the stock from $70.00 to $60.00 in a research report on Thursday, September 15th. Albert Fried & Company reissued a “buy” rating on shares of AMC Networks in a research report on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of AMC Networks in a research report on Monday, September 12th. Finally, FBN Securities reissued an “outperform” rating on shares of AMC Networks in a research report on Thursday, October 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $73.13.
Large investors have recently bought and sold shares of the company. 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. Institutional investors own 83.72% of the company’s stock.
The firm has a 50 day moving average of $52.48 and a 200-day moving average of $59.00. The stock has a market cap of $3.57 billion, a P/E ratio of 10.42 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, meeting 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 firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 EPS. Equities research analysts anticipate that AMC Networks Inc. will post $5.56 EPS for the current year.
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. 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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