Stifel Nicolaus Downgrades AMC Networks Inc. (AMCX) to Hold
AMC Networks Inc. (NASDAQ:AMCX) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Thursday. They presently have a $60.00 price objective on the stock, down from their previous price objective of $70.00. Stifel Nicolaus’ price objective points to a potential upside of 17.90% from the company’s previous close.
Other research analysts have also issued reports about the company. Albert Fried & Company reissued a “buy” rating on shares of AMC Networks in a research report on Tuesday, July 12th. TheStreet raised AMC Networks to a “buy” rating in a research report on Thursday, May 26th. Pacific Crest reissued a “buy” rating on shares of AMC Networks in a research report on Sunday, May 22nd. Goldman Sachs Group Inc. dropped their price target on AMC Networks from $84.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Finally, Morgan Stanley lowered AMC Networks from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $76.19.
Shares of AMC Networks (NASDAQ:AMCX) opened at 50.89 on Thursday. The firm’s 50-day moving average price is $54.67 and its 200 day moving average price is $60.96. AMC Networks has a 12-month low of $50.25 and a 12-month high of $83.78. The stock has a market capitalization of $3.63 billion, a P/E ratio of 10.60 and a beta of 0.93.
AMC Networks (NASDAQ:AMCX) last posted its quarterly 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 firm had revenue of $685 million for the quarter, compared to analyst estimates of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. AMC Networks’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Analysts predict that AMC Networks will post $5.59 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC increased its stake in shares of AMC Networks by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,564 shares of the company’s stock worth $638,000 after buying an additional 56 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of AMC Networks during the second quarter worth approximately $1,686,000. IFP Advisors Inc increased its stake in shares of AMC Networks by 5.6% in the second quarter. IFP Advisors Inc now owns 9,788 shares of the company’s stock worth $591,000 after buying an additional 516 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of AMC Networks by 2.3% in the second quarter. Public Employees Retirement System of Ohio now owns 24,367 shares of the company’s stock worth $1,472,000 after buying an additional 556 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of AMC Networks by 114.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 332,432 shares of the company’s stock worth $20,086,000 after buying an additional 177,285 shares in the last quarter. Institutional investors own 83.88% 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. 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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