Sanford C. Bernstein Reaffirms “Market Perform” Rating for AMC Networks Inc. (AMCX)
Several other brokerages have also recently issued reports on AMCX. BidaskClub raised shares of AMC Networks from a buy rating to a strong-buy rating in a research note on Monday, July 31st. TheStreet raised shares of AMC Networks from a c rating to a b- rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a hold rating and set a $65.00 price objective (up previously from $60.00) on shares of AMC Networks in a research note on Friday, August 4th. Zacks Investment Research cut shares of AMC Networks from a buy rating to a hold rating in a research note on Friday, July 14th. Finally, Moffett Nathanson reaffirmed a sell rating on shares of AMC Networks in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. AMC Networks presently has an average rating of Hold and an average price target of $61.25.
AMC Networks (AMCX) opened at 59.42 on Tuesday. AMC Networks has a one year low of $46.17 and a one year high of $67.61. The company has a market cap of $3.78 billion, a P/E ratio of 12.98 and a beta of 1.09. The company has a 50 day moving average of $60.46 and a 200-day moving average of $57.80.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The company had revenue of $710.55 million during the quarter, compared to analysts’ expectations of $715.23 million. During the same quarter in the prior year, the company earned $1.15 EPS. AMC Networks’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that AMC Networks will post $6.67 earnings per share for the current fiscal year.
AMC Networks announced that its Board of Directors has approved a share buyback plan on Wednesday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several large investors have recently made changes to their positions in the business. World Asset Management Inc increased its position in shares of AMC Networks by 0.3% in the 2nd quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after purchasing an additional 12 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of AMC Networks by 2.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock valued at $175,000 after buying an additional 88 shares during the last quarter. Wrapmanager Inc. grew its position in shares of AMC Networks by 3.2% in the 2nd quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock valued at $219,000 after buying an additional 128 shares during the last quarter. Greenwood Capital Associates LLC grew its position in shares of AMC Networks by 4.4% in the 1st quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock valued at $234,000 after buying an additional 167 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AMC Networks by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock valued at $116,000 after buying an additional 181 shares during the last quarter. 84.99% of the stock is currently owned by 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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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