AMC Networks Inc. (AMCX) Price Target Cut to $60.00 by Analysts at Loop Capital
AMC Networks Inc. (NASDAQ:AMCX) had its price target decreased by research analysts at Loop Capital from $61.00 to $60.00 in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the stock. Loop Capital’s target price suggests a potential upside of 7.76% from the stock’s current price.
AMCX has been the subject of a number of other research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price objective on shares of AMC Networks in a research report on Tuesday, September 12th. Zacks Investment Research cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. Wells Fargo & Company started coverage on shares of AMC Networks in a research note on Tuesday, October 10th. They set an “outperform” rating and a $72.00 target price for the company. Guggenheim cut shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Finally, Cowen and Company reissued a “hold” rating and set a $53.00 target price on shares of AMC Networks in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.33.
Shares of AMC Networks (NASDAQ AMCX) traded down 1.28% during trading on Thursday, reaching $54.97. The company had a trading volume of 369,152 shares. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 12.01 and a beta of 1.06. The company’s 50 day moving average is $58.09 and its 200-day moving average is $57.69. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.47. The business had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.15 earnings per share. On average, equities research analysts anticipate that AMC Networks will post $6.64 earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. grew its stake in shares of AMC Networks by 138.5% in the 2nd quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock valued at $18,031,000 after buying an additional 196,030 shares during the period. First Trust Advisors LP grew its stake in shares of AMC Networks by 353.3% in the 2nd quarter. First Trust Advisors LP now owns 60,544 shares of the company’s stock valued at $3,234,000 after buying an additional 47,189 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of AMC Networks by 31.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock valued at $557,000 after buying an additional 2,300 shares during the period. Morgan Stanley grew its stake in shares of AMC Networks by 73.9% in the 1st quarter. Morgan Stanley now owns 509,073 shares of the company’s stock valued at $29,873,000 after buying an additional 216,261 shares during the period. Finally, UBS Oconnor LLC purchased a new stake in shares of AMC Networks in the 1st quarter valued at approximately $4,923,000. 84.94% of the stock is 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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