Analysts Expect AMC Networks Inc. (AMCX) Will Announce Quarterly Sales of $731.10 Million
Equities analysts expect AMC Networks Inc. (NASDAQ:AMCX) to announce sales of $731.10 million for the current quarter, according to Zacks. Four analysts have made estimates for AMC Networks’ earnings, with the lowest sales estimate coming in at $726.70 million and the highest estimate coming in at $734.40 million. AMC Networks posted sales of $729.60 million in the same quarter last year, which suggests a positive year over year growth rate of 0.2%. The business is expected to announce its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that AMC Networks will report full year sales of $731.10 million for the current financial year, with estimates ranging from $2.80 billion to $2.88 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.92 billion per share, with estimates ranging from $2.80 billion to $2.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover AMC Networks.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.53. The firm had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. AMC Networks had a net margin of 12.12% and a return on equity of 948.45%. AMC Networks’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share.
Several equities analysts have weighed in on the stock. Jefferies Group LLC decreased their target price on shares of AMC Networks from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Loop Capital decreased their target price on shares of AMC Networks from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, November 3rd. Piper Jaffray Companies set a $60.00 price target on shares of AMC Networks and gave the company a “hold” rating in a research note on Wednesday, November 1st. Morgan Stanley reduced their price target on shares of AMC Networks from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 31st. Finally, Guggenheim downgraded shares of AMC Networks from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $58.00.
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A number of large investors have recently modified their holdings of AMCX. Wellington Management Group LLP boosted its stake in AMC Networks by 34.4% during the 1st quarter. Wellington Management Group LLP now owns 21,431 shares of the company’s stock worth $1,258,000 after purchasing an additional 5,486 shares during the period. Teachers Advisors LLC boosted its stake in AMC Networks by 59.1% during the 1st quarter. Teachers Advisors LLC now owns 107,787 shares of the company’s stock worth $6,325,000 after purchasing an additional 40,022 shares during the period. Legal & General Group Plc boosted its stake in AMC Networks by 114.3% during the 1st quarter. Legal & General Group Plc now owns 38,948 shares of the company’s stock worth $2,285,000 after purchasing an additional 20,770 shares during the period. Thrivent Financial For Lutherans boosted its stake in AMC Networks by 3.7% during the 1st quarter. Thrivent Financial For Lutherans now owns 10,497 shares of the company’s stock worth $616,000 after purchasing an additional 370 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in AMC Networks by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 299,713 shares of the company’s stock worth $17,587,000 after purchasing an additional 23,747 shares during the period. Hedge funds and other institutional investors own 85.01% of the company’s stock.
AMC Networks (NASDAQ AMCX) traded down $0.81 on Friday, reaching $48.46. 785,300 shares of the company were exchanged, compared to its average volume of 1,189,216. The firm has a market capitalization of $2,997.88, a price-to-earnings ratio of 6.96, a PEG ratio of 0.91 and a beta of 1.09. AMC Networks has a 52-week low of $47.13 and a 52-week high of $67.61. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 37.53.
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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