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.
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