AMCX has been the topic of several other reports. BidaskClub upgraded AMC Networks from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Zacks Investment Research lowered AMC Networks from a buy rating to a hold rating in a research report on Friday, July 14th. Jefferies Group LLC restated a hold rating and set a $60.00 price target on shares of AMC Networks in a research report on Monday, July 10th. Moffett Nathanson restated a sell rating on shares of AMC Networks in a research report on Friday, June 9th. Finally, ValuEngine lowered AMC Networks from a buy rating to a hold rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $61.25.
Shares of AMC Networks (NASDAQ AMCX) traded up 0.80% on Friday, hitting $61.42. 1,168,569 shares of the stock traded hands. AMC Networks has a 1-year low of $46.17 and a 1-year high of $67.61. The stock has a market cap of $3.90 billion, a PE ratio of 13.42 and a beta of 1.06. The stock has a 50 day moving average of $58.65 and a 200-day moving average of $57.34.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data 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 company had revenue of $710.55 million for the quarter, compared to analysts’ expectations of $715.23 million. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. AMC Networks’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. On average, equities research analysts expect that AMC Networks will post $6.64 EPS for the current year.
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AMC Networks declared that its board has authorized a stock buyback program on Wednesday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 13.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisor Group Inc. boosted its position in AMC Networks by 24.4% in the second quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock valued at $112,000 after buying an additional 414 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 buying an additional 181 shares in the last quarter. Riverhead Capital Management LLC boosted its position in AMC Networks by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock valued at $172,000 after buying an additional 1,328 shares in the last quarter. PNC Financial Services Group Inc. boosted 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 buying an additional 88 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in AMC Networks during the first quarter valued at $194,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.
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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