Jefferies Group LLC restated their hold rating on shares of AMC Networks Inc. (NASDAQ:AMCX) in a research report report published on Monday, July 10th. The brokerage currently has a $60.00 price target on the stock.
AMCX has been the subject of several other reports. Moffett Nathanson reissued a sell rating on shares of AMC Networks in a report on Friday, June 9th. Zacks Investment Research downgraded shares of AMC Networks from a buy rating to a hold rating in a report on Friday, March 31st. BidaskClub raised shares of AMC Networks from a sell rating to a hold rating in a report on Friday, June 9th. Piper Jaffray Companies downgraded shares of AMC Networks from an overweight rating to a neutral rating in a report on Monday, April 10th. Finally, Guggenheim reaffirmed a buy rating and set a $70.00 price objective on shares of AMC Networks in a report on Tuesday, March 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. AMC Networks currently has an average rating of Hold and an average target price of $61.25.
Shares of AMC Networks (NASDAQ:AMCX) traded down 0.32% on Monday, reaching $62.30. The company’s stock had a trading volume of 461,712 shares. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The stock has a market cap of $4.15 billion, a PE ratio of 15.14 and a beta of 1.06. The company’s 50 day moving average is $57.26 and its 200-day moving average is $57.06.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. During the same period last year, the firm earned $1.15 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that AMC Networks will post $6.49 earnings per share for the current fiscal year.
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AMC Networks announced that its board has approved a stock repurchase program on Wednesday, June 7th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 13.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of large investors have recently bought and sold shares of AMCX. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AMC Networks by 9.1% in the second 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. Oppenheimer Asset Management Inc. acquired a new stake in AMC Networks during the first quarter valued at approximately $194,000. World Asset Management Inc raised its stake in AMC Networks by 0.3% in the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after buying an additional 12 shares during the last quarter. Wrapmanager Inc. raised its stake in AMC Networks by 3.2% in the second 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. Finally, Greenwood Capital Associates LLC increased its position in shares of AMC Networks by 4.4% in the first 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 in the last quarter. 81.89% of the stock is currently 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. 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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