AMC Networks Inc. (AMCX) Given Average Recommendation of “Hold” by Analysts
AMC Networks Inc. (NASDAQ:AMCX) has received an average recommendation of “Hold” from the twenty-two ratings firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $69.77.
A number of research firms have issued reports on AMCX. Credit Agricole SA set a $89.00 target price on shares of AMC Networks and gave the company a “buy” rating in a report on Saturday, September 17th. Nomura reduced their target price on shares of AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 22nd. Pacific Crest restated a “neutral” rating on shares of AMC Networks in a report on Friday, November 4th. Jefferies Group reduced their target price on shares of AMC Networks from $67.00 to $61.00 and set a “hold” rating on the stock in a report on Friday, August 5th. Finally, FBR & Co assumed coverage on shares of AMC Networks in a report on Thursday, October 6th. They set an “outperform” rating on the stock.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in AMC Networks by 2.8% in the second quarter. Vanguard Group Inc. now owns 4,438,339 shares of the company’s stock worth $268,163,000 after buying an additional 118,801 shares during the last quarter. Alliancebernstein L.P. increased its stake in AMC Networks by 0.3% in the second quarter. Alliancebernstein L.P. now owns 3,903,122 shares of the company’s stock worth $235,827,000 after buying an additional 12,565 shares during the last quarter. FMR LLC increased its stake in AMC Networks by 4.5% in the second quarter. FMR LLC now owns 3,295,553 shares of the company’s stock worth $199,118,000 after buying an additional 142,682 shares during the last quarter. BlackRock Fund Advisors increased its stake in AMC Networks by 2.7% in the third quarter. BlackRock Fund Advisors now owns 2,224,122 shares of the company’s stock worth $115,343,000 after buying an additional 57,837 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in AMC Networks by 5.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,061,061 shares of the company’s stock worth $106,887,000 after buying an additional 108,859 shares during the last quarter. 78.40% of the stock is owned by institutional investors and hedge funds.
Shares of AMC Networks (NASDAQ:AMCX) traded up 0.77% on Wednesday, hitting $53.68. 365,905 shares of the company were exchanged. The company has a 50-day moving average price of $51.11 and a 200 day moving average price of $56.41. The firm has a market cap of $3.78 billion, a P/E ratio of 11.32 and a beta of 0.99. AMC Networks has a 52-week low of $46.17 and a 52-week high of $83.78.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, November 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.02 by $0.01. The firm earned $634.60 million during the quarter, compared to analysts’ expectations of $660.58 million. AMC Networks had a net margin of 12.80% and a return on equity of 408.71%. AMC Networks’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. Analysts predict that AMC Networks will post $5.70 EPS for the current fiscal year.
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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