Jefferies Group LLC Reiterates “Hold” Rating for AMC Networks Inc. (NASDAQ:AMCX)

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.

COPYRIGHT VIOLATION NOTICE: “Jefferies Group LLC Reiterates “Hold” Rating for AMC Networks Inc. (NASDAQ:AMCX)” was originally posted by Markets Daily and is the property of of Markets Daily. If you are reading this article on another website, it was stolen and republished in violation of U.S. and international copyright & trademark law. The legal version of this article can be viewed at https://www.themarketsdaily.com/2017/08/08/amc-networks-inc-nasdaqamcx-rating-reiterated-by-jefferies-group-llc-updated-updated-updated.html.

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.

Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

Receive News & Ratings for AMC Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply