AMC Networks Inc. (AMCX) Forecasted to Earn Q4 2016 Earnings of $1.31 Per Share
AMC Networks Inc. (NASDAQ:AMCX) – Investment analysts at Jefferies Group reduced their Q4 2016 earnings per share estimates for shares of AMC Networks in a research note issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will post earnings per share of $1.31 for the quarter, down from their previous estimate of $1.36. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for AMC Networks’ Q4 2017 earnings at $1.41 EPS and FY2017 earnings at $6.03 EPS.
Several other research firms have also weighed in on AMCX. TheStreet lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Sanford C. Bernstein reissued a “market perform” rating on shares of AMC Networks in a research note on Friday, June 17th. Albert Fried & Company reissued a “buy” rating and set a $97.00 price target on shares of AMC Networks in a research note on Wednesday, June 22nd. Morgan Stanley lowered AMC Networks from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research lowered AMC Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $73.13.
AMC Networks (NASDAQ:AMCX) traded down 3.58% during midday trading on Wednesday, reaching $48.26. 515,997 shares of the company’s stock were exchanged. AMC Networks has a 12 month low of $47.18 and a 12 month high of $83.78. The company has a market cap of $3.45 billion, a P/E ratio of 10.05 and a beta of 0.84. The company has a 50 day moving average price of $52.34 and a 200 day moving average price of $58.93.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.28. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The firm had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. During the same quarter in the previous year, the company earned $1.14 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. boosted its stake in AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock valued at $108,000 after buying an additional 1,288 shares during the period. Advisor Group Inc. purchased a new position in shares of AMC Networks during the second quarter valued at about $120,000. Acrospire Investment Management LLC raised its position in shares of AMC Networks by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock valued at $193,000 after buying an additional 2,400 shares in the last quarter. Wrapmanager Inc. raised its position in shares of AMC Networks by 4.7% in the second quarter. Wrapmanager Inc. now owns 3,711 shares of the company’s stock valued at $224,000 after buying an additional 168 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock valued at $227,000 after buying an additional 1,501 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company’s stock.
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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