Brokerages Set AMC Networks Inc. (AMCX) PT at $72.37
AMC Networks Inc. (NASDAQ:AMCX) has received an average recommendation of “Buy” from the twenty-two research firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $72.37.
Several equities research analysts have recently weighed in on AMCX shares. Goldman Sachs Group Inc. reduced their price target on AMC Networks from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Albert Fried & Company reiterated a “buy” rating on shares of AMC Networks in a report on Tuesday, July 12th. Stifel Nicolaus reduced their price target on AMC Networks from $89.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Credit Agricole SA set a $89.00 price objective on AMC Networks and gave the stock a “buy” rating in a report on Saturday, September 17th. Finally, Nomura reduced their price objective on AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, September 22nd.
Several hedge funds and other institutional investors have recently modified their holdings of AMCX. Parametrica Management Ltd acquired a new position in shares of AMC Networks during the third quarter worth $373,000. Nisa Investment Advisors LLC boosted its position in shares of AMC Networks by 28.6% in the third quarter. Nisa Investment Advisors LLC now owns 8,982 shares of the company’s stock worth $466,000 after buying an additional 2,000 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of AMC Networks during the third quarter worth $487,000. Creative Planning boosted its position in shares of AMC Networks by 19.6% in the third quarter. Creative Planning now owns 11,831 shares of the company’s stock worth $614,000 after buying an additional 1,938 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of AMC Networks by 3.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,472 shares of the company’s stock worth $1,114,000 after buying an additional 622 shares during the period. 83.72% of the stock is owned by institutional investors and hedge funds.
AMC Networks (NASDAQ:AMCX) opened at 48.26 on Tuesday. AMC Networks has a one year low of $47.18 and a one year high of $83.78. The stock’s 50 day moving average price is $52.17 and its 200-day moving average price is $58.86. The company has a market capitalization of $3.45 billion, a P/E ratio of 10.05 and a beta of 0.84.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, hitting the consensus estimate of $1.28. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The firm had revenue of $685 million for the quarter, compared to the consensus estimate of $676.87 million. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts forecast that AMC Networks will post $5.56 EPS for the current year.
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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