AMC Networks Inc. (AMCX) Given New $66.00 Price Target at Guggenheim
AMC Networks Inc. (NASDAQ:AMCX) had its price target lowered by Guggenheim from $77.00 to $66.00 in a research note published on Tuesday morning. The brokerage currently has a buy rating on the stock.
AMCX has been the topic of a number of other reports. Jefferies Group reiterated a hold rating on shares of AMC Networks in a research note on Monday, September 12th. Albert Fried & Company restated a buy rating and issued a $97.00 price objective on shares of AMC Networks in a research note on Wednesday, June 22nd. Zacks Investment Research cut AMC Networks from a hold rating to a sell rating in a research note on Monday. TheStreet cut AMC Networks from a buy rating to a hold rating in a research note on Wednesday, June 29th. Finally, Loop Capital restated a hold rating and issued a $60.00 price objective on shares of AMC Networks in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $73.13.
Shares of AMC Networks (NASDAQ:AMCX) traded up 0.190% during trading on Tuesday, hitting $50.065. 94,914 shares of the stock traded hands. The stock has a 50 day moving average price of $52.48 and a 200-day moving average price of $59.00. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 10.424 and a beta of 0.84. AMC Networks has a 1-year low of $49.67 and a 1-year high of $83.78.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 4th. The company reported $1.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.28. The company had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. Equities analysts forecast that AMC Networks will post $5.56 EPS for the current year.
Hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA increased its stake in shares of AMC Networks by 990.7% in the first quarter. Glenmede Trust Co. NA now owns 4,701 shares of the company’s stock valued at $304,000 after buying an additional 4,270 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of AMC Networks during the first quarter valued at $27,119,000. Geode Capital Management LLC increased its stake in shares of AMC Networks by 4.8% in the first quarter. Geode Capital Management LLC now owns 386,935 shares of the company’s stock valued at $25,127,000 after buying an additional 17,710 shares during the last quarter. State Street Corp increased its stake in shares of AMC Networks by 1.1% in the first quarter. State Street Corp now owns 1,592,497 shares of the company’s stock valued at $103,407,000 after buying an additional 17,780 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of AMC Networks by 167.8% in the first quarter. UBS Group AG now owns 32,514 shares of the company’s stock valued at $2,111,000 after buying an additional 20,371 shares during the last quarter. 83.72% of the stock is owned by institutional investors and hedge funds.
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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