TheStreet Lowers AMC Networks Inc. (AMCX) to C
AMC Networks Inc. (NASDAQ:AMCX) was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating in a report issued on Tuesday.
Several other analysts have also recently commented on the stock. Jefferies Group LLC decreased their price objective on shares of AMC Networks from $65.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Loop Capital decreased their price objective on shares of AMC Networks from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, November 3rd. Piper Jaffray Companies set a $60.00 price objective on shares of AMC Networks and gave the company a “hold” rating in a research note on Wednesday, November 1st. Morgan Stanley decreased their price objective on shares of AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 31st. Finally, Guggenheim cut shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $59.62.
Shares of AMC Networks (NASDAQ AMCX) opened at $48.39 on Tuesday. The company has a market cap of $2,965.09, a P/E ratio of 6.89, a P/E/G ratio of 0.90 and a beta of 1.09. The company has a debt-to-equity ratio of 37.53, a current ratio of 2.57 and a quick ratio of 2.57. AMC Networks has a 12 month low of $46.89 and a 12 month high of $67.61.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.15 by $0.53. AMC Networks had a net margin of 12.12% and a return on equity of 948.45%. The business had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $660.79 million. During the same period in the previous year, the business posted $1.11 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. analysts anticipate that AMC Networks will post 7.01 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of AMCX. Investec Asset Management LTD increased its holdings in shares of AMC Networks by 45.0% during the 3rd quarter. Investec Asset Management LTD now owns 1,799,372 shares of the company’s stock valued at $105,209,000 after purchasing an additional 558,579 shares in the last quarter. AJO LP increased its holdings in shares of AMC Networks by 121.4% during the 2nd quarter. AJO LP now owns 996,174 shares of the company’s stock valued at $53,206,000 after purchasing an additional 546,211 shares in the last quarter. LSV Asset Management increased its holdings in shares of AMC Networks by 284.0% during the 2nd quarter. LSV Asset Management now owns 721,131 shares of the company’s stock valued at $38,515,000 after purchasing an additional 533,360 shares in the last quarter. Boston Partners purchased a new position in shares of AMC Networks during the 2nd quarter valued at approximately $20,311,000. Finally, American Century Companies Inc. purchased a new position in shares of AMC Networks during the 3rd quarter valued at approximately $20,212,000. 83.04% of the stock is 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. 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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