A number of other research firms have also recently commented on AMCX. Morgan Stanley cut AMC Networks from an overweight rating to an equal weight rating and cut their target price for the company from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Albert Fried & Company reaffirmed a buy rating and set a $76.00 target price on shares of AMC Networks in a research note on Sunday, September 25th. Zacks Investment Research raised AMC Networks from a sell rating to a hold rating in a research note on Wednesday, August 10th. Loop Capital initiated coverage on AMC Networks in a research note on Tuesday, August 9th. They set a hold rating on the stock. Finally, Stifel Nicolaus cut AMC Networks from a buy rating to a hold rating and cut their target price for the company from $70.00 to $60.00 in a research note on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $73.53.
AMC Networks (NASDAQ:AMCX) opened at 51.47 on Thursday. The company’s 50-day moving average price is $52.64 and its 200-day moving average price is $59.06. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 10.72 and a beta of 0.84. AMC Networks has a 52-week low of $49.93 and a 52-week high of $83.78.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The company had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. Equities research analysts expect that AMC Networks will post $5.56 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in AMCX. I.G. Investment Management LTD. increased its stake in shares of 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 in the last quarter. Advisor Group Inc. bought a new stake in shares of AMC Networks during the second quarter valued at $120,000. Acrospire Investment Management LLC increased its stake 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. increased its stake 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, Quantitative Systematic Strategies LLC bought a new stake in shares of AMC Networks during the second quarter valued at $225,000. 83.72% of the stock is currently owned by 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. 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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