Todays Report: The AMC Networks Inc. (AMCX) Now Covered by FBR & Co

The AMC Networks Inc. (AMCX) Now Covered by FBR & Co

FBR & Co assumed coverage on shares of AMC Networks Inc. (NASDAQ:AMCX) in a research note issued to investors on Thursday. The brokerage set an “outperform” rating on the stock.

AMCX has been the topic of a number of other reports. TheStreet cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Sanford C. Bernstein restated a “market perform” rating on shares of AMC Networks in a research note on Friday, June 17th. Albert Fried & Company restated a “buy” rating and set a $97.00 price target on shares of AMC Networks in a research note on Wednesday, June 22nd. Morgan Stanley cut shares of AMC Networks from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $78.00 to $65.00 in a research note on Wednesday, June 22nd. Finally, Jefferies Group dropped their price target on shares of AMC Networks from $72.00 to $67.00 and set a “hold” rating on the stock in a research note on Monday, July 11th. Ten investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $73.53.

AMC Networks (NASDAQ:AMCX) opened at 51.52 on Thursday. The company has a 50-day moving average of $52.77 and a 200-day moving average of $59.23. The company has a market capitalization of $3.68 billion, a PE ratio of 10.73 and a beta of 0.84. AMC Networks has a 52 week low of $49.93 and a 52 week high of $83.78.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.28. The firm had revenue of $685 million for the quarter, compared to analysts’ expectations of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. On average, equities research analysts anticipate that AMC Networks will post $5.56 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in AMCX. Condor Capital Management raised its position in AMC Networks by 0.5% in the second quarter. Condor Capital Management now owns 10,537 shares of the company’s stock valued at $637,000 after buying an additional 49 shares in the last quarter. BB&T Securities LLC raised its position in AMC Networks by 1.4% in the second quarter. BB&T Securities LLC now owns 3,779 shares of the company’s stock valued at $228,000 after buying an additional 51 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in AMC Networks by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,564 shares of the company’s stock valued at $638,000 after buying an additional 56 shares in the last quarter. Loomis Sayles & Co. L P raised its position in AMC Networks by 0.4% in the first quarter. Loomis Sayles & Co. L P now owns 26,593 shares of the company’s stock valued at $1,727,000 after buying an additional 94 shares in the last quarter. Finally, Utah Retirement Systems raised its position in AMC Networks by 0.9% in the second quarter. Utah Retirement Systems now owns 10,816 shares of the company’s stock valued at $654,000 after buying an additional 100 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors.

AMC Networks Company Profile

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