Albert Fried & Company restated their buy rating on shares of AMC Networks Inc. (NASDAQ:AMCX) in a research note published on Sunday morning. The brokerage currently has a $76.00 price objective on the stock.
Several other research firms have also recently issued reports on AMCX. Morgan Stanley cut AMC Networks from an overweight rating to an equal weight rating and decreased their price objective for the stock from $78.00 to $65.00 in a report on Wednesday, June 22nd. Zacks Investment Research upgraded AMC Networks from a sell rating to a hold rating in a report on Wednesday, August 10th. Loop Capital began coverage on AMC Networks in a research report on Tuesday, August 9th. They issued a hold rating on the stock. Stifel Nicolaus lowered AMC Networks from a buy rating to a hold rating and cut their target price for the stock from $70.00 to $60.00 in a research report on Thursday, September 15th. Finally, JPMorgan Chase & Co. cut their target price on AMC Networks from $66.00 to $62.00 and set a neutral rating on the stock in a research report on Friday, August 5th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. AMC Networks has an average rating of Buy and an average price target of $73.53.
AMC Networks (NASDAQ:AMCX) opened at 52.38 on Friday. AMC Networks has a 52-week low of $49.93 and a 52-week high of $83.78. The stock’s 50 day moving average price is $53.72 and its 200 day moving average price is $60.20. The firm has a market capitalization of $3.74 billion, a PE ratio of 10.91 and a beta of 0.93.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. Analysts expect that AMC Networks will post $5.57 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of AMCX. Northwestern Mutual Investment Management Company LLC increased its position in AMC Networks by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,564 shares of the company’s stock worth $638,000 after buying an additional 56 shares during the period. Mason Street Advisors LLC purchased a new position in AMC Networks during the second quarter worth approximately $1,686,000. IFP Advisors Inc increased its position in AMC Networks by 5.6% in the second quarter. IFP Advisors Inc now owns 9,788 shares of the company’s stock worth $591,000 after buying an additional 516 shares during the period. Public Employees Retirement System of Ohio increased its position in AMC Networks by 2.3% in the second quarter. Public Employees Retirement System of Ohio now owns 24,367 shares of the company’s stock worth $1,472,000 after buying an additional 556 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in AMC Networks by 114.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 332,432 shares of the company’s stock worth $20,086,000 after buying an additional 177,285 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.
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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