Jefferies Group LLC reissued their hold rating on shares of AMC Networks Inc. (NASDAQ:AMCX) in a research note issued to investors on Tuesday. The brokerage currently has a $65.00 price target on the stock.
AMCX has been the subject of several other research reports. Moffett Nathanson restated a sell rating on shares of AMC Networks in a research note on Friday, June 9th. Zacks Investment Research downgraded AMC Networks from a buy rating to a hold rating in a research note on Friday, July 14th. BidaskClub upgraded AMC Networks from a buy rating to a strong-buy rating in a research report on Monday, July 31st. TheStreet upgraded AMC Networks from a c rating to a b- rating in a research report on Friday, July 28th. Finally, ValuEngine downgraded AMC Networks from a buy rating to a hold rating in a research report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. AMC Networks currently has a consensus rating of Hold and a consensus price target of $61.25.
AMC Networks (NASDAQ:AMCX) opened at 56.45 on Tuesday. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 12.33 and a beta of 1.09. The firm has a 50 day moving average price of $61.15 and a 200-day moving average price of $57.85. AMC Networks has a 12 month low of $46.17 and a 12 month high of $67.61.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.47. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The firm had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts forecast that AMC Networks will post $6.67 EPS for the current year.
AMC Networks declared that its board has approved a stock buyback program on Wednesday, June 7th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. lifted its position in shares of AMC Networks by 24.4% during the 2nd quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after buying an additional 414 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AMC Networks by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after buying an additional 181 shares during the period. Americafirst Capital Management LLC bought a new position in shares of AMC Networks during the 2nd quarter worth approximately $153,000. Riverhead Capital Management LLC lifted its position in shares of AMC Networks by 69.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock worth $172,000 after buying an additional 1,328 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of AMC Networks by 2.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock worth $175,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.
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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