AMC Networks’ (AMCX) Market Perform Rating Reaffirmed at Sanford C. Bernstein

Sanford C. Bernstein reaffirmed their market perform rating on shares of AMC Networks Inc. (NASDAQ:AMCX) in a research report released on Tuesday morning.

Several other analysts have also recently commented on AMCX. Jefferies Group LLC restated a hold rating and set a $65.00 price objective on shares of AMC Networks in a research note on Tuesday. Moffett Nathanson reiterated a sell rating on shares of AMC Networks in a research note on Friday, June 9th. BidaskClub upgraded shares of AMC Networks from a buy rating to a strong-buy rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of AMC Networks from a hold rating to a buy rating and set a $63.00 target price for the company in a research note on Thursday, July 13th. Finally, TheStreet upgraded shares of AMC Networks from a c rating to a b- rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $61.25.

Shares of AMC Networks (NASDAQ:AMCX) opened at 56.45 on Tuesday. The stock has a market capitalization of $3.59 billion, a PE ratio of 12.33 and a beta of 1.09. The stock has a 50 day moving average of $61.15 and a 200-day moving average of $57.85. AMC Networks has a 52 week low of $46.17 and a 52 week high of $67.61.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, beating the 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 business had revenue of $710.55 million during the quarter, compared to analysts’ expectations of $715.23 million. During the same period in the previous year, the business posted $1.15 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that AMC Networks will post $6.67 EPS for the current year.

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AMC Networks announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 13.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of AMCX. Wells Fargo & Company MN increased its holdings in AMC Networks by 21.0% in the 1st quarter. Wells Fargo & Company MN now owns 329,740 shares of the company’s stock worth $19,349,000 after acquiring an additional 57,173 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in AMC Networks in the 1st quarter worth $370,000. Great West Life Assurance Co. Can increased its holdings in AMC Networks by 2.2% in the 1st quarter. Great West Life Assurance Co. Can now owns 34,004 shares of the company’s stock worth $1,994,000 after acquiring an additional 722 shares in the last quarter. First Trust Advisors LP purchased a new stake in AMC Networks in the 1st quarter worth $784,000. Finally, Bank of New York Mellon Corp increased its holdings in AMC Networks by 12.2% in the 1st quarter. Bank of New York Mellon Corp now owns 753,517 shares of the company’s stock worth $44,216,000 after acquiring an additional 82,222 shares in the last quarter. 84.99% of the stock is owned by 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.

Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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