Shares of AMC Networks Inc. (NASDAQ:AMCX) have been given an average recommendation of “Hold” by the eighteen brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $61.25.
A number of analysts have commented on AMCX shares. TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a research report 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 objective 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. Jefferies Group LLC reaffirmed a “hold” rating and issued a $60.00 price objective on shares of AMC Networks in a research note on Monday, July 10th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $53.00 price objective on shares of AMC Networks in a research note on Thursday, September 21st.
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Several institutional investors have recently added to or reduced their stakes in AMCX. BlackRock Inc. increased its position in shares of AMC Networks by 3,894.6% in the first quarter. BlackRock Inc. now owns 5,048,490 shares of the company’s stock worth $296,245,000 after acquiring an additional 4,922,108 shares in the last quarter. Omega Advisors Inc. purchased a new position in shares of AMC Networks in the first quarter worth approximately $48,850,000. AJO LP increased its position in shares of AMC Networks by 121.4% in the second quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after acquiring an additional 546,211 shares in the last quarter. LSV Asset Management increased its position in shares of AMC Networks by 284.0% in the second 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 in the last quarter. Finally, Boston Partners purchased a new position in shares of AMC Networks in the second quarter worth approximately $20,311,000. 84.94% of the stock is currently owned by institutional investors and hedge funds.
AMC Networks (NASDAQ AMCX) traded down 0.55% during mid-day trading on Thursday, hitting $55.59. 562,586 shares of the stock traded hands. The firm has a market cap of $3.53 billion, a PE ratio of 12.15 and a beta of 1.06. AMC Networks has a 12-month low of $46.17 and a 12-month high of $67.61. The stock has a 50 day moving average price of $58.42 and a 200 day moving average price of $57.74.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The company had revenue of $710.55 million for the quarter, compared to the consensus estimate of $715.23 million. During the same period in the previous year, the firm earned $1.15 EPS. AMC Networks’s revenue was up 3.8% on a year-over-year basis. On average, analysts expect that AMC Networks will post $6.67 earnings per share for the current fiscal year.
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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