AMC Networks Inc. (AMCX) Price Target Cut to $55.00 by Analysts at Loop Capital
AMCX has been the subject of several other research reports. Guggenheim downgraded shares of AMC Networks from a buy rating to a neutral rating in a research report on Thursday, October 12th. BidaskClub upgraded shares of AMC Networks from a hold rating to a buy rating in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of AMC Networks from a hold rating to a buy rating and set a $63.00 target price for the company in a report on Thursday, July 13th. Wells Fargo & Company initiated coverage on shares of AMC Networks in a report on Tuesday, October 10th. They set an outperform rating and a $72.00 target price for the company. Finally, Sanford C. Bernstein restated a market perform rating on shares of AMC Networks in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $58.00.
Shares of AMC Networks (NASDAQ:AMCX) traded down $1.04 during mid-day trading on Friday, hitting $47.50. 1,621,309 shares of the stock traded hands, compared to its average volume of 1,069,855. The company has a debt-to-equity ratio of 43.05, a current ratio of 1.55 and a quick ratio of 1.55. AMC Networks has a 52 week low of $47.44 and a 52 week high of $67.61. The company has a market capitalization of $3,019.29, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 0.75 and a beta of 1.09.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.53. AMC Networks had a net margin of 12.12% and a return on equity of 1,224.87%. The company had revenue of $648.00 million during the quarter, compared to the consensus estimate of $660.79 million. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts predict that AMC Networks will post 6.76 earnings per share for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in AMCX. OppenheimerFunds Inc. lifted its stake in AMC Networks by 8.2% in the first quarter. OppenheimerFunds Inc. now owns 11,924 shares of the company’s stock valued at $700,000 after acquiring an additional 899 shares during the last quarter. Wellington Management Group LLP lifted its stake in AMC Networks by 34.4% in the first quarter. Wellington Management Group LLP now owns 21,431 shares of the company’s stock valued at $1,258,000 after acquiring an additional 5,486 shares during the last quarter. Teachers Advisors LLC lifted its stake in AMC Networks by 59.1% in the first quarter. Teachers Advisors LLC now owns 107,787 shares of the company’s stock valued at $6,325,000 after acquiring an additional 40,022 shares during the last quarter. Legal & General Group Plc lifted its stake in AMC Networks by 114.3% in the first quarter. Legal & General Group Plc now owns 38,948 shares of the company’s stock valued at $2,285,000 after acquiring an additional 20,770 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in AMC Networks by 3.7% in the first quarter. Thrivent Financial For Lutherans now owns 10,497 shares of the company’s stock valued at $616,000 after acquiring an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 85.06% of the company’s stock.
About AMC Networks
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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