AMC Networks Inc. (AMCX) Price Target Lowered to $55.00 at Morgan Stanley
AMC Networks Inc. (NASDAQ:AMCX) had its price objective cut by stock analysts at Morgan Stanley from $60.00 to $55.00 in a research note issued to investors on Tuesday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 6.86% from the stock’s current price.
A number of other brokerages have also issued reports on AMCX. Jefferies Group LLC reiterated a “hold” rating and set a $60.00 target price on shares of AMC Networks in a research report on Monday, July 10th. Zacks Investment Research upgraded shares of AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Thursday, July 13th. Loop Capital reduced their target price on shares of AMC Networks from $61.00 to $60.00 and set a “hold” rating on the stock in a research report on Thursday, October 19th. BidaskClub upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, TheStreet upgraded shares of AMC Networks from a “c” rating to a “b-” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. AMC Networks has an average rating of “Hold” and an average target price of $59.00.
Shares of AMC Networks (NASDAQ AMCX) opened at 51.47 on Tuesday. AMC Networks has a one year low of $46.17 and a one year high of $67.61. The company’s 50-day moving average price is $56.83 and its 200 day moving average price is $57.33. The company has a market cap of $3.27 billion, a PE ratio of 11.25 and a beta of 1.06.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, August 3rd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $715.23 million. During the same period in the prior year, the business earned $1.15 earnings per share. AMC Networks’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that AMC Networks will post $6.64 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. World Asset Management Inc raised its holdings in AMC Networks by 0.3% in the second quarter. World Asset Management Inc now owns 3,972 shares of the company’s stock worth $212,000 after purchasing an additional 12 shares during the period. PNC Financial Services Group Inc. raised its holdings 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 worth $175,000 after purchasing an additional 88 shares during the period. Wrapmanager Inc. raised its holdings in AMC Networks by 3.2% in the second quarter. Wrapmanager Inc. now owns 4,102 shares of the company’s stock worth $219,000 after purchasing an additional 128 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AMC Networks by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after purchasing an additional 181 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in AMC Networks by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 14,400 shares of the company’s stock worth $769,000 after purchasing an additional 200 shares during the period. Institutional investors own 85.06% 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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