Brokerages Set AMC Networks Inc. (AMCX) Price Target at $59.40
Shares of AMC Networks Inc. (NASDAQ:AMCX) have earned an average recommendation of “Hold” from the eighteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $59.40.
AMCX has been the topic of a number of research analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. Zacks Investment Research lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Cowen and Company restated a “hold” rating and set a $53.00 price objective on shares of AMC Networks in a report on Thursday, September 21st. Guggenheim lowered shares of AMC Networks from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Finally, 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 price objective on the stock.
AMC Networks (AMCX) traded down $0.81 on Monday, reaching $48.46. 785,300 shares of the company’s stock traded hands, compared to its average volume of 746,363. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 37.53. The firm has a market capitalization of $3,047.99, a price-to-earnings ratio of 7.08, a PEG ratio of 0.92 and a beta of 1.09. AMC Networks has a 12 month low of $47.13 and a 12 month high of $67.61.
AMC Networks (NASDAQ:AMCX) last posted its earnings results on Thursday, November 2nd. The company reported $1.68 earnings per share 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 948.45%. The company had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. During the same period last year, the business posted $1.11 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. research analysts forecast that AMC Networks will post 7.01 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc grew its position in AMC Networks by 0.3% in the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock valued at $212,000 after purchasing an additional 12 shares in the last quarter. PNC Financial Services Group Inc. grew its position in AMC Networks by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock valued at $175,000 after purchasing an additional 88 shares in the last quarter. Wrapmanager Inc. grew its position in AMC Networks by 3.2% in the second quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock valued at $219,000 after purchasing an additional 128 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in AMC Networks by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock valued at $116,000 after purchasing an additional 181 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of AMC Networks by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the company’s stock valued at $769,000 after acquiring an additional 200 shares during the period. 85.01% 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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