AMC Networks (NASDAQ:AMCX) Posts Earnings Results, Beats Estimates By $0.04 EPS

AMC Networks (NASDAQ:AMCXGet Free Report) posted its quarterly earnings data on Friday. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04, MarketWatch Earnings reports. AMC Networks had a positive return on equity of 40.10% and a negative net margin of 0.91%. The firm had revenue of $678.80 million during the quarter, compared to analysts’ expectations of $675.97 million. During the same period in the prior year, the business earned $2.52 EPS. The company’s revenue for the quarter was down 29.6% compared to the same quarter last year. AMC Networks updated its FY 2024 guidance to EPS.

AMC Networks Price Performance

NASDAQ AMCX opened at $14.41 on Monday. The company has a market capitalization of $627.70 million, a PE ratio of 2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.46 and a current ratio of 1.46. The business’s fifty day moving average is $18.19 and its 200 day moving average is $14.54. AMC Networks has a fifty-two week low of $9.96 and a fifty-two week high of $27.46.

Analysts Set New Price Targets

AMCX has been the subject of several analyst reports. Seaport Res Ptn cut AMC Networks from a “buy” rating to a “neutral” rating in a report on Tuesday, December 12th. TheStreet lowered AMC Networks from a “c-” rating to a “d” rating in a research report on Wednesday, November 1st. StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group dropped their price target on AMC Networks from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.00.

Check Out Our Latest Report on AMC Networks

Insider Activity at AMC Networks

In other AMC Networks news, EVP James Gallagher sold 22,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $20.40, for a total transaction of $448,800.00. Following the sale, the executive vice president now directly owns 6,867 shares of the company’s stock, valued at $140,086.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AMC Networks news, Director Matthew Blank sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Gallagher sold 22,000 shares of AMC Networks stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $20.40, for a total value of $448,800.00. Following the completion of the sale, the executive vice president now directly owns 6,867 shares in the company, valued at $140,086.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,192 shares of company stock worth $1,604,874. Corporate insiders own 27.06% of the company’s stock.

Institutional Investors Weigh In On AMC Networks

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in shares of AMC Networks by 20.6% in the third quarter. Public Employees Retirement System of Ohio now owns 7,070 shares of the company’s stock worth $144,000 after purchasing an additional 1,208 shares during the last quarter. State of Wyoming increased its holdings in shares of AMC Networks by 16.4% in the second quarter. State of Wyoming now owns 11,187 shares of the company’s stock worth $134,000 after purchasing an additional 1,577 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of AMC Networks in the first quarter worth about $99,000. Quarry LP increased its holdings in shares of AMC Networks by 393.2% in the second quarter. Quarry LP now owns 7,427 shares of the company’s stock worth $89,000 after purchasing an additional 5,921 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of AMC Networks by 40.4% in the fourth quarter. US Bancorp DE now owns 4,518 shares of the company’s stock worth $85,000 after purchasing an additional 1,300 shares during the last quarter. 59.77% of the stock is owned by institutional investors.

AMC Networks Company Profile

(Get Free Report)

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 through Domestic Operations, and International and Other.

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Earnings History for AMC Networks (NASDAQ:AMCX)

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