AMC Networks Inc. (NASDAQ:AMCX) - Research analysts at Jefferies Group decreased their Q3 2017 earnings per share estimates for AMC Networks in a report issued on Thursday. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings per share of $1.12 for the quarter, down from their previous forecast of $1.20. Jefferies Group has a “Hold” rating and a $60.00 price target on the stock. Jefferies Group also issued estimates for AMC Networks’ Q4 2017 earnings at $1.61 EPS, FY2017 earnings at $6.16 EPS, Q3 2018 earnings at $1.31 EPS and Q4 2018 earnings at $1.82 EPS.
AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Thursday, May 4th. The company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.10. The company had revenue of $720.19 million for the quarter, compared to analyst estimates of $720.15 million. AMC Networks had a return on equity of 502.40% and a net margin of 10.59%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. ILLEGAL ACTIVITY NOTICE: “Q3 2017 EPS Estimates for AMC Networks Inc. Cut by Analyst (NASDAQ:AMCX)” was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://stocknewstimes.com/2017/07/19/q3-2017-eps-estimates-for-amc-networks-inc-cut-by-analyst-nasdaqamcx.html.
A number of other equities analysts have also commented on AMCX. Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of AMC Networks in a research note on Tuesday, March 28th. Zacks Investment Research raised AMC Networks from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, March 28th. Piper Jaffray Companies lowered AMC Networks from an “overweight” rating to a “neutral” rating in a research note on Monday, April 10th. Deutsche Bank AG reduced their price objective on AMC Networks from $65.00 to $61.00 and set a “hold” rating on the stock in a research note on Monday, May 8th. Finally, ValuEngine lowered AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.79.
AMC Networks (NASDAQ AMCX) opened at 56.77 on Monday. AMC Networks has a one year low of $46.17 and a one year high of $67.61. The stock’s 50 day moving average price is $54.75 and its 200-day moving average price is $56.54. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 13.79 and a beta of 1.03.
AMC Networks announced that its Board of Directors has initiated a stock repurchase program on Wednesday, June 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 13.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently made changes to their positions in AMCX. Oppenheimer Asset Management Inc. acquired a new stake in shares of AMC Networks during the first quarter valued at about $194,000. World Asset Management Inc acquired a new stake in shares of AMC Networks during the first quarter valued at about $232,000. Wrapmanager Inc. acquired a new stake in shares of AMC Networks during the first quarter valued at about $233,000. Greenwood Capital Associates LLC increased its stake in shares of AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock valued at $234,000 after buying an additional 167 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of AMC Networks by 15.0% in the second quarter. LS Investment Advisors LLC now owns 4,376 shares of the company’s stock valued at $234,000 after buying an additional 572 shares during the period. Institutional investors own 82.10% of the company’s stock.
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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