AMC Networks Inc. (AMCX) Earns Outperform Rating from Analysts at FBR & Co
Several other equities research analysts also recently issued reports on the company. FBN Securities reaffirmed an outperform rating on shares of AMC Networks in a report on Thursday, October 6th. Albert Fried & Company reaffirmed a buy rating and set a $76.00 price target on shares of AMC Networks in a report on Sunday, September 25th. Nomura cut their price target on AMC Networks from $70.00 to $63.00 and set a buy rating for the company in a report on Thursday, September 22nd. Credit Agricole SA set a $89.00 price target on AMC Networks and gave the company a buy rating in a report on Saturday, September 17th. Finally, Stifel Nicolaus downgraded AMC Networks from a buy rating to a hold rating and cut their price target for the company from $70.00 to $60.00 in a report on Thursday, September 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $73.53.
Shares of AMC Networks (NASDAQ:AMCX) opened at 51.47 on Thursday. The stock has a 50 day moving average of $52.64 and a 200 day moving average of $59.06. The firm has a market cap of $3.67 billion, a P/E 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 released its quarterly earnings data on Thursday, August 4th. The company reported $1.28 EPS for the quarter, meeting the consensus estimate of $1.28. The company earned $685 million during the quarter, compared to the consensus estimate of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Analysts anticipate that AMC Networks will post $5.56 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in AMCX. Investec Asset Management North America Inc. raised its stake in shares of AMC Networks by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 11,099 shares of the company’s stock worth $721,000 after buying an additional 3,178 shares during the last quarter. M&T Bank Corp raised its stake in shares of AMC Networks by 2.7% in the first quarter. M&T Bank Corp now owns 5,742 shares of the company’s stock worth $374,000 after buying an additional 151 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of AMC Networks during the first quarter worth approximately $1,086,000. BlackRock Japan Co. Ltd purchased a new stake in shares of AMC Networks during the first quarter worth approximately $414,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of AMC Networks by 16.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,033,378 shares of the company’s stock worth $132,048,000 after buying an additional 294,128 shares during the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
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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