Brokerages Set AMC Networks Inc. (AMCX) Price Target at $60.67
AMC Networks Inc. (NASDAQ:AMCX) has been given an average rating of “Hold” by the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $60.67.
A number of brokerages have recently issued reports on AMCX. Cowen restated a “hold” rating and set a $53.00 price objective on shares of AMC Networks in a report on Thursday, September 21st. Wells Fargo & Company began coverage on AMC Networks in a report on Tuesday, October 10th. They set an “outperform” rating and a $72.00 price objective for the company. Guggenheim cut AMC Networks from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a report on Tuesday, September 12th. Finally, Jefferies Group restated a “hold” rating and set a $65.00 price objective on shares of AMC Networks in a report on Tuesday, September 12th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of AMC Networks by 385.4% in the second quarter. Royal Bank of Canada now owns 93,357 shares of the company’s stock valued at $4,986,000 after buying an additional 74,123 shares in the last quarter. Prudential Financial Inc. raised its position in AMC Networks by 138.5% during the second quarter. Prudential Financial Inc. now owns 337,589 shares of the company’s stock valued at $18,031,000 after purchasing an additional 196,030 shares in the last quarter. First Trust Advisors LP raised its position in AMC Networks by 353.3% during the second quarter. First Trust Advisors LP now owns 60,544 shares of the company’s stock valued at $3,234,000 after purchasing an additional 47,189 shares in the last quarter. Cipher Capital LP acquired a new position in AMC Networks during the second quarter valued at approximately $4,189,000. Finally, Bridgewater Associates LP acquired a new position in AMC Networks during the second quarter valued at approximately $659,000. Institutional investors own 86.95% of the company’s stock.
Shares of AMC Networks (AMCX) traded up $3.29 during trading hours on Friday, hitting $56.15. The stock had a trading volume of 1,607,656 shares, compared to its average volume of 753,940. AMC Networks has a 12 month low of $46.89 and a 12 month high of $67.61. The company has a market capitalization of $3,270.08, a PE ratio of 7.59, a PEG ratio of 0.99 and a beta of 1.10. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 37.53.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.53. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The company had revenue of $648.00 million during the quarter, compared to analysts’ expectations of $660.79 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. analysts forecast that AMC Networks will post 7.01 earnings per share for the current year.
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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