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.
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