Jefferies Group Equities Analysts Reduce Earnings Estimates for AMC Networks Inc (AMCX)
AMC Networks Inc (NASDAQ:AMCX) – Analysts at Jefferies Group decreased their FY2017 earnings per share (EPS) estimates for shares of AMC Networks in a research report issued on Wednesday. Jefferies Group analyst J. Janedis now forecasts that the company will earn $7.08 per share for the year, down from their prior estimate of $7.20. Jefferies Group has a “Hold” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for AMC Networks’ Q1 2018 earnings at $2.10 EPS, Q2 2018 earnings at $1.82 EPS, Q3 2018 earnings at $1.58 EPS, Q4 2018 earnings at $1.40 EPS and FY2018 earnings at $6.90 EPS.
A number of other equities analysts have also recently issued reports on AMCX. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a research report on Thursday, December 21st. Zacks Investment Research cut shares of AMC Networks from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub cut shares of AMC Networks from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 4th. Macquarie cut shares of AMC Networks from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Tuesday, January 2nd. Finally, ValuEngine upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday, December 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.42.
AMC Networks (NASDAQ:AMCX) last issued its earnings results on Thursday, November 2nd. The company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.15 by $0.53. The company had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $660.79 million. AMC Networks had a net margin of 12.12% and a return on equity of 948.45%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of AMCX. Schwab Charles Investment Management Inc. grew its holdings in AMC Networks by 19.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 306,966 shares of the company’s stock worth $16,396,000 after acquiring an additional 49,899 shares during the last quarter. Legal & General Group Plc grew its holdings in AMC Networks by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 46,479 shares of the company’s stock worth $2,482,000 after acquiring an additional 7,531 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in AMC Networks by 1.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 11,537 shares of the company’s stock worth $616,000 after acquiring an additional 219 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in AMC Networks by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in AMC Networks by 2.1% during the 2nd quarter. Principal Financial Group Inc. now owns 236,847 shares of the company’s stock worth $12,650,000 after acquiring an additional 4,831 shares during the last quarter. 86.88% of the stock is currently owned by hedge funds and other institutional investors.
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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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