AMC Networks Inc. (NASDAQ:AMCX) – Equities researchers at Gabelli decreased their FY2018 earnings per share estimates for shares of AMC Networks in a report released on Monday. Gabelli analyst B. Harriss now expects that the company will earn $7.75 per share for the year, down from their previous forecast of $7.90. Gabelli also issued estimates for AMC Networks’ FY2019 earnings at $8.50 EPS, FY2020 earnings at $9.25 EPS and FY2021 earnings at $10.10 EPS.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, May 4th. The company reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.10. The business had revenue of $720.19 million during the quarter, compared to the consensus estimate of $720.15 million. AMC Networks had a return on equity of 502.40% and a net margin of 10.59%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share.
A number of other research firms have also issued reports on AMCX. Loop Capital restated a “hold” rating and issued a $56.00 target price on shares of AMC Networks in a report on Monday, February 27th. Piper Jaffray Companies lowered AMC Networks from an “overweight” rating to a “neutral” rating in a report on Monday, April 10th. Zacks Investment Research lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Thursday, April 6th. Instinet increased their target price on AMC Networks from $63.00 to $65.00 and gave the company a “positive” rating in a report on Friday, February 24th. Finally, Guggenheim increased their target price on AMC Networks from $66.00 to $70.00 and gave the company a “positive” rating in a report on Friday, February 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $63.14.
Shares of AMC Networks (NASDAQ:AMCX) opened at 55.83 on Thursday. The stock has a 50 day moving average price of $54.68 and a 200-day moving average price of $56.13. The stock has a market cap of $3.72 billion, a P/E ratio of 13.56 and a beta of 0.96. AMC Networks has a 12 month low of $46.17 and a 12 month high of $67.61.
In other AMC Networks news, EVP James Gallagher sold 4,000 shares of the stock in a transaction on Monday, March 20th. The shares were sold at an average price of $58.75, for a total transaction of $235,000.00. Following the transaction, the executive vice president now directly owns 12,260 shares of the company’s stock, valued at $720,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.67% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC increased its position in AMC Networks by 1.1% in the first quarter. Clearbridge Investments LLC now owns 8,589,302 shares of the company’s stock valued at $504,020,000 after buying an additional 94,999 shares during the last quarter. UBS Oconnor LLC acquired a new position in AMC Networks during the first quarter valued at approximately $4,923,000. Public Employees Retirement System of Ohio increased its position in AMC Networks by 11.3% in the first quarter. Public Employees Retirement System of Ohio now owns 44,018 shares of the company’s stock valued at $2,583,000 after buying an additional 4,469 shares during the last quarter. HighTower Advisors LLC increased its position in AMC Networks by 25.6% in the first quarter. HighTower Advisors LLC now owns 5,450 shares of the company’s stock valued at $323,000 after buying an additional 1,112 shares during the last quarter. Finally, Credit Suisse AG increased its position in AMC Networks by 3.7% in the first quarter. Credit Suisse AG now owns 74,375 shares of the company’s stock valued at $4,364,000 after buying an additional 2,646 shares during the last quarter. 81.96% of the stock is currently owned by hedge funds and other institutional investors.
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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