AMC Networks Inc. (AMCX) Hits New 1-Year Low at $54.53
AMC Networks Inc. (NASDAQ:AMCX)’s share price hit a new 52-week low on Tuesday . The company traded as low as $54.53 and last traded at $54.60, with a volume of 182,413 shares changing hands. The stock had previously closed at $55.44.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded AMC Networks from a “sell” rating to a “hold” rating and set a $78.00 target price on the stock in a report on Monday, May 9th. Pacific Crest reiterated a “buy” rating on shares of AMC Networks in a report on Sunday, May 22nd. Macquarie upgraded AMC Networks from a “neutral” rating to an “outperform” rating and set a $82.00 target price on the stock in a report on Tuesday, April 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of AMC Networks in a report on Thursday, May 19th. Finally, Jefferies Group assumed coverage on AMC Networks in a report on Tuesday, April 5th. They issued a “hold” rating and a $72.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $78.97.
The stock has a market cap of $3.98 billion and a PE ratio of 11.17. The company has a 50-day moving average price of $57.77 and a 200-day moving average price of $63.90.
AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, May 5th. The company reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.20. The company had revenue of $707 million for the quarter, compared to the consensus estimate of $695.47 million. During the same quarter last year, the business posted $1.66 EPS. AMC Networks’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that AMC Networks Inc. will post $5.84 EPS for the current fiscal year.
A number of institutional investors recently modified their holdings of AMCX. Westfield Capital Management Co. LP boosted its position in shares of AMC Networks by 49.8% in the fourth quarter. Westfield Capital Management Co. LP now owns 525,156 shares of the company’s stock worth $39,219,000 after buying an additional 174,527 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of AMC Networks by 21.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 126,455 shares of the company’s stock worth $9,444,000 after buying an additional 22,400 shares during the period. 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 during the period. Principal Financial Group Inc. boosted its position in shares of AMC Networks by 2.4% in the fourth quarter. Principal Financial Group Inc. now owns 198,664 shares of the company’s stock worth $14,836,000 after buying an additional 4,693 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of AMC Networks by 5.7% in the fourth quarter. Wells Fargo & Company MN now owns 285,730 shares of the company’s stock worth $21,338,000 after buying an additional 15,331 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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