AMC Networks Inc. (NASDAQ:AMCX – Get Rating) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $33.38.
A number of equities analysts have commented on AMCX shares. Wells Fargo & Company cut their price objective on shares of AMC Networks from $32.00 to $27.00 and set a “market underperform” rating on the stock in a report on Monday, August 8th. Morgan Stanley reduced their price target on shares of AMC Networks from $35.00 to $33.00 in a report on Monday, August 8th. Moffett Nathanson cut their price objective on shares of AMC Networks to $30.00 in a research report on Friday, July 22nd. Cowen cut their price target on AMC Networks to $36.00 in a report on Monday, August 15th. Finally, The Goldman Sachs Group reduced their price target on AMC Networks to $32.00 in a research report on Monday, August 15th.
Hedge Funds Weigh In On AMC Networks
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Rhumbline Advisers lifted its stake in AMC Networks by 0.5% in the 4th quarter. Rhumbline Advisers now owns 86,048 shares of the company’s stock worth $2,963,000 after acquiring an additional 469 shares in the last quarter. DGS Capital Management LLC purchased a new position in shares of AMC Networks during the 1st quarter valued at $253,000. New York State Common Retirement Fund raised its holdings in shares of AMC Networks by 134.6% during the first quarter. New York State Common Retirement Fund now owns 49,358 shares of the company’s stock worth $2,005,000 after acquiring an additional 28,319 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in AMC Networks during the fourth quarter valued at $992,000. Finally, IndexIQ Advisors LLC grew its stake in AMC Networks by 20.1% in the first quarter. IndexIQ Advisors LLC now owns 9,539 shares of the company’s stock valued at $388,000 after purchasing an additional 1,595 shares in the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.
AMC Networks Stock Performance
AMC Networks (NASDAQ:AMCX – Get Rating) last posted its earnings results on Friday, August 5th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.08. The business had revenue of $738.00 million for the quarter, compared to analyst estimates of $777.93 million. AMC Networks had a net margin of 10.29% and a return on equity of 36.11%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.45 EPS. As a group, equities research analysts expect that AMC Networks will post 8.07 earnings per share for the current fiscal year.
About AMC Networks
AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.
- Get a free copy of the StockNews.com research report on AMC Networks (AMCX)
- Oracle’s Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin’ It: Investors Keep Visiting McDonald’s
- Did FedEx Just Deliver A Buying Opportunity?
- Autozone Shifts Back Into Rally-Mode, New Highs Are In Sight
Receive News & Ratings for AMC Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks and related companies with MarketBeat.com's FREE daily email newsletter.