AMC Networks Inc. (AMCX) Shares Gap Up to $54.78
AMC Networks Inc. (NASDAQ:AMCX)’s share price gapped up prior to trading on Monday . The stock had previously closed at $54.47, but opened at $54.78. AMC Networks shares last traded at $56.23, with a volume of 317,283 shares.
A number of equities analysts recently weighed in on the company. Zacks Investment Research raised AMC Networks from a “sell” rating to a “hold” rating and set a $78.00 price target on the stock in a research note on Monday, May 9th. Pacific Crest reissued a “buy” rating on shares of AMC Networks in a research note on Sunday, May 22nd. Macquarie raised AMC Networks from a “neutral” rating to an “outperform” rating and set a $82.00 price target on the stock in a research note on Tuesday, April 26th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of AMC Networks in a research note on Thursday, May 19th. Finally, TheStreet raised AMC Networks to a “buy” rating in a research note on Thursday, May 26th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.03.
The company has a market capitalization of $4.04 billion and a PE ratio of 11.79. The firm has a 50 day moving average of $56.55 and a 200-day moving average of $62.78.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, meeting the consensus estimate of $1.28. The company earned $685 million during the quarter, compared to analyst estimates of $676.87 million. During the same period in the previous year, the company posted $1.14 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. Equities research analysts predict that AMC Networks Inc. will post $5.60 earnings per share for the current year.
A number of institutional investors recently added to or reduced their stakes in AMCX. Ancora Advisors LLC bought a new position in AMC Networks during the fourth quarter valued at $1,398,000. BNP Paribas Arbitrage SA increased its stake 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 valued at $9,444,000 after buying an additional 22,400 shares during the period. Principal Financial Group Inc. increased its stake 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 valued at $14,836,000 after buying an additional 4,693 shares during the period. Morgan Stanley increased 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 valued at $18,787,000 after buying an additional 157,113 shares during the period. Finally, Wells Fargo & Company MN increased its stake 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 valued at $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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