AMC Networks Inc. (AMCX) Shares Down 4%
AMC Networks Inc. (NASDAQ:AMCX) was down 4% during trading on Friday . The company traded as low as $56.35 and last traded at $56.68, with a volume of 932,358 shares changing hands. The stock had previously closed at $59.07.
A number of equities research analysts recently commented on AMCX shares. Moffett Nathanson raised their price objective on shares of AMC Networks to $77.00 in a research report on Tuesday, April 12th. TheStreet upgraded shares of AMC Networks to a “buy” rating in a research report on Thursday, May 26th. Pacific Crest restated a “buy” rating on shares of AMC Networks in a research report on Sunday, May 22nd. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, April 26th. Finally, Albert Fried & Company restated a “buy” rating and issued a $97.00 price objective on shares of AMC Networks in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $80.23.
The stock has a market capitalization of $4.11 billion and a PE ratio of 11.54. The company has a 50 day moving average of $60.01 and a 200-day moving average of $65.66.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.20. The business earned $707 million during the quarter, compared to analyst estimates of $695.47 million. During the same quarter in the prior year, the company posted $1.66 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that AMC Networks Inc. will post $5.88 earnings per share for the current fiscal year.
Several institutional investors have made changes to their positions in AMCX. Todd Asset Management LLC acquired a new position in shares of AMC Networks during the fourth quarter worth about $13,807,000. Jennison Associates LLC boosted its position in shares of AMC Networks by 14.9% in the fourth quarter. Jennison Associates LLC now owns 1,296,963 shares of the company’s stock worth $96,857,000 after buying an additional 168,605 shares in the last quarter. Morgan Stanley boosted its stake in shares of AMC Networks by 166.3% in the fourth quarter. Morgan Stanley now owns 251,563 shares of the company’s stock worth $18,787,000 after buying an additional 157,113 shares during the period. New York State Common Retirement Fund boosted its stake in shares of AMC Networks by 82.5% in the fourth quarter. New York State Common Retirement Fund now owns 250,554 shares of the company’s stock worth $18,711,000 after buying an additional 113,254 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of AMC Networks by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 4,142,134 shares of the company’s stock worth $309,334,000 after buying an additional 105,080 shares during the period.
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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