Loop Capital Cuts AMC Networks Inc. (NASDAQ:AMCX) Price Target to $60.00

AMC Networks Inc. (NASDAQ:AMCX) had its price target cut by investment analysts at Loop Capital from $61.00 to $60.00 in a research report issued on Thursday, October 19th. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price objective suggests a potential upside of 14.18% from the company’s current price.

A number of other brokerages have also recently issued reports on AMCX. TheStreet raised AMC Networks from a “c” rating to a “b-” rating in a research report on Friday, July 28th. BidaskClub raised AMC Networks from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “hold” rating and issued a $65.00 target price (up from $60.00) on shares of AMC Networks in a research report on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and set a $53.00 price objective on shares of AMC Networks in a research report on Thursday, September 21st. Finally, Wells Fargo & Company began coverage on AMC Networks in a research report on Tuesday, October 10th. They set an “outperform” rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $59.33.

AMC Networks (NASDAQ AMCX) traded up 2.14% on Thursday, hitting $52.55. 887,307 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $56.97 and a 200-day moving average price of $57.40. AMC Networks has a 12 month low of $46.17 and a 12 month high of $67.61. The stock has a market cap of $3.34 billion, a P/E ratio of 11.48 and a beta of 1.06.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.47. AMC Networks had a return on equity of 683.16% and a net margin of 11.40%. The business had revenue of $710.55 million for the quarter, compared to the consensus estimate of $715.23 million. During the same quarter in the prior year, the business posted $1.15 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that AMC Networks will post $6.64 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Raymond James Financial Services Advisors Inc. purchased a new position in AMC Networks during the third quarter worth $218,000. Aperio Group LLC increased its position in AMC Networks by 111.1% during the third quarter. Aperio Group LLC now owns 38,273 shares of the company’s stock worth $2,238,000 after buying an additional 20,145 shares in the last quarter. APG Asset Management N.V. purchased a new position in AMC Networks during the third quarter worth $6,338,000. Rockefeller Financial Services Inc. increased its position in AMC Networks by 200.0% during the third quarter. Rockefeller Financial Services Inc. now owns 6,975 shares of the company’s stock worth $408,000 after buying an additional 4,650 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in AMC Networks by 599.2% during the third quarter. Meeder Asset Management Inc. now owns 6,461 shares of the company’s stock worth $378,000 after buying an additional 5,537 shares in the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.

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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