AMC Networks Inc. (NASDAQ:AMCX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Cowen and Company in a research report issued to clients and investors on Thursday. They currently have a $53.00 price target on the stock. Cowen and Company’s target price would suggest a potential downside of 10.29% from the stock’s current price.

Other research analysts have also issued reports about the stock. TheStreet raised shares of AMC Networks from a “c” rating to a “b-” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Thursday, July 13th. BidaskClub raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. ValuEngine lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 price target on shares of AMC Networks in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five 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 a consensus price target of $57.82.

Shares of AMC Networks (NASDAQ AMCX) opened at 59.08 on Thursday. AMC Networks has a one year low of $46.17 and a one year high of $67.61. The stock has a 50 day moving average price of $60.06 and a 200 day moving average price of $57.73. The company has a market capitalization of $3.76 billion, a PE ratio of 12.91 and a beta of 1.09.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.47. The firm had revenue of $710.55 million for the quarter, compared to analyst estimates of $715.23 million. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. AMC Networks’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. On average, equities research analysts predict that AMC Networks will post $6.65 earnings per share for the current year.

AMC Networks announced that its Board of Directors has initiated a share buyback program on Wednesday, June 7th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 13.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of AMC Networks by 138.5% during the 2nd quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock worth $18,031,000 after buying an additional 196,030 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of AMC Networks during the 1st quarter worth approximately $471,000. Oppenheimer & Co. Inc. increased its holdings in shares of AMC Networks by 31.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 9,500 shares of the company’s stock worth $557,000 after buying an additional 2,300 shares during the last quarter. Morgan Stanley increased its holdings in shares of AMC Networks by 73.9% during the 1st quarter. Morgan Stanley now owns 509,073 shares of the company’s stock worth $29,873,000 after buying an additional 216,261 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of AMC Networks by 353.3% during the 2nd quarter. First Trust Advisors LP now owns 60,544 shares of the company’s stock worth $3,234,000 after buying an additional 47,189 shares during the last quarter. Institutional investors and hedge funds own 84.98% 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.

Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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