Brokerages Expect AMC Networks Inc. (AMCX) Will Post Earnings of $1.15 Per Share
Brokerages predict that AMC Networks Inc. (NASDAQ:AMCX) will report $1.15 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for AMC Networks’ earnings. The highest EPS estimate is $1.35 and the lowest is $0.91. AMC Networks reported earnings per share of $1.01 during the same quarter last year, which would indicate a positive year over year growth rate of 13.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that AMC Networks will report full year earnings of $6.60 per share for the current year, with EPS estimates ranging from $6.26 to $7.08. For the next fiscal year, analysts anticipate that the company will post earnings of $6.80 per share, with EPS estimates ranging from $5.83 to $7.65. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover AMC Networks.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The firm had revenue of $710.55 million during the quarter, compared to analyst estimates of $715.23 million. During the same period last year, the firm posted $1.15 EPS. AMC Networks’s revenue was up 3.8% on a year-over-year basis.
AMCX has been the subject of a number of research reports. TheStreet upgraded AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Thursday, July 13th. BidaskClub upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $65.00 price objective (up previously from $60.00) on shares of AMC Networks in a research note on Friday, August 4th. Finally, ValuEngine cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $61.25.
Hedge funds have recently bought and sold shares of the stock. Clearbridge Investments LLC raised its stake in AMC Networks by 1.1% in the first quarter. Clearbridge Investments LLC now owns 8,589,302 shares of the company’s stock valued at $504,020,000 after buying an additional 94,999 shares during the period. BlackRock Inc. raised its stake in AMC Networks by 3,894.6% in the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock valued at $296,245,000 after buying an additional 4,922,108 shares during the period. Vanguard Group Inc. raised its stake in AMC Networks by 2.3% in the first quarter. Vanguard Group Inc. now owns 4,553,340 shares of the company’s stock valued at $267,189,000 after buying an additional 102,284 shares during the period. Jennison Associates LLC raised its stake in AMC Networks by 10.9% in the first quarter. Jennison Associates LLC now owns 1,621,675 shares of the company’s stock valued at $95,160,000 after buying an additional 159,719 shares during the period. Finally, Investec Asset Management LTD raised its stake in AMC Networks by 35.4% in the second quarter. Investec Asset Management LTD now owns 1,240,793 shares of the company’s stock valued at $66,271,000 after buying an additional 324,669 shares during the period. 84.99% of the stock is currently owned by institutional investors.
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Shares of AMC Networks (NASDAQ:AMCX) traded up 0.50% during trading on Friday, reaching $60.78. 397,329 shares of the company traded hands. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 13.28 and a beta of 1.06. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The stock’s 50 day moving average is $60.56 and its 200 day moving average is $57.64.
AMC Networks announced that its board has authorized a stock buyback plan on Wednesday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 13.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
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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