Jefferies Group LLC Trims AMC Networks Inc. (AMCX) Target Price to $55.00
AMC Networks Inc. (NASDAQ:AMCX) had its target price cut by Jefferies Group LLC from $65.00 to $55.00 in a research report report published on Friday. They currently have a hold rating on the stock. Jefferies Group also issued estimates for AMC Networks’ Q4 2017 earnings at $1.54 EPS, FY2017 earnings at $7.20 EPS, Q1 2018 earnings at $2.23 EPS, Q2 2018 earnings at $1.87 EPS, Q3 2018 earnings at $1.65 EPS, Q4 2018 earnings at $1.69 EPS, FY2018 earnings at $7.43 EPS, FY2019 earnings at $8.03 EPS, FY2020 earnings at $8.85 EPS and FY2021 earnings at $9.33 EPS.
A number of other research analysts have also weighed in on the company. Piper Jaffray Companies set a $60.00 price objective on AMC Networks and gave the stock a hold rating in a report on Wednesday, November 1st. Cowen and Company reaffirmed a hold rating and set a $53.00 price objective on shares of AMC Networks in a report on Thursday, September 21st. BidaskClub raised AMC Networks from a buy rating to a strong-buy rating in a report on Monday, July 31st. Morgan Stanley lowered their target price on AMC Networks from $60.00 to $55.00 and set an equal weight rating on the stock in a report on Tuesday, October 31st. Finally, Zacks Investment Research lowered AMC Networks from a buy rating to a hold rating in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has issued 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.
AMC Networks (NASDAQ AMCX) traded up $0.41 during mid-day trading on Friday, reaching $47.91. The company had a trading volume of 337,346 shares, compared to its average volume of 1,135,085. The company has a debt-to-equity ratio of 37.53, a quick ratio of 2.57 and a current ratio of 2.57. AMC Networks has a 12-month low of $47.44 and a 12-month high of $67.61. The stock has a market capitalization of $3,019.29, a PE ratio of 6.82, a price-to-earnings-growth ratio of 0.74 and a beta of 1.09.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.53. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The company had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $660.79 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. research analysts predict that AMC Networks will post 6.76 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of AMC Networks by 385.4% in the 2nd quarter. Royal Bank of Canada now owns 93,357 shares of the company’s stock worth $4,986,000 after acquiring an additional 74,123 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of AMC Networks by 138.5% in the 2nd quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock worth $18,031,000 after acquiring an additional 196,030 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of AMC Networks by 353.3% in the 2nd quarter. First Trust Advisors LP now owns 60,544 shares of the company’s stock worth $3,234,000 after acquiring an additional 47,189 shares during the last quarter. Cipher Capital LP acquired a new position in shares of AMC Networks in the 2nd quarter worth $4,189,000. Finally, LSV Asset Management grew its holdings in shares of AMC Networks by 284.0% in the 2nd quarter. LSV Asset Management now owns 721,131 shares of the company’s stock worth $38,515,000 after acquiring an additional 533,360 shares during the last quarter. 85.01% of the stock is currently owned by institutional investors.
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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