AMC Networks Inc. (AMCX) Receives $61.25 Consensus Target Price from Analysts
AMC Networks Inc. (NASDAQ:AMCX) has been assigned an average recommendation of “Hold” from the eighteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $61.25.
A number of brokerages have issued reports on AMCX. BidaskClub raised shares of AMC Networks from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. TheStreet raised shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $65.00 price objective (up previously from $60.00) on shares of AMC Networks in a research note on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and issued a $53.00 price objective on shares of AMC Networks in a research note on Thursday, September 21st. Finally, Wells Fargo & Company assumed coverage on shares of AMC Networks in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $72.00 price objective for the company.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of AMC Networks by 3,894.6% during the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock worth $296,245,000 after buying an additional 4,922,108 shares during the last quarter. Omega Advisors Inc. bought a new stake in shares of AMC Networks during the first quarter worth approximately $48,850,000. AJO LP raised its stake in shares of AMC Networks by 121.4% during the second quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after buying an additional 546,211 shares during the last quarter. LSV Asset Management raised its stake in shares of AMC Networks by 284.0% during the second quarter. LSV Asset Management now owns 721,131 shares of the company’s stock worth $38,515,000 after buying an additional 533,360 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of AMC Networks during the second quarter worth approximately $20,311,000. Institutional investors own 84.99% of the company’s stock.
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AMC Networks (NASDAQ AMCX) traded up 3.64% during mid-day trading on Thursday, hitting $55.74. The stock had a trading volume of 1,256,459 shares. The stock has a market cap of $3.54 billion, a PE ratio of 12.18 and a beta of 1.06. The firm’s 50-day moving average is $58.42 and its 200 day moving average is $57.75. AMC Networks has a one year low of $46.17 and a one year high of $67.61.
AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.47. The company had revenue of $710.55 million during the quarter, compared to analyst estimates of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS. Equities research analysts expect that AMC Networks will post $6.67 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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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