The AMC Networks Inc. (AMCX) Receives New Coverage from Analysts at FBN Securities

The AMC Networks Inc. (AMCX) Receives New Coverage from Analysts at FBN Securities

FBN Securities initiated coverage on shares of AMC Networks Inc. (NASDAQ:AMCX) in a research report released on Thursday morning, The Fly reports. The brokerage issued an outperform rating on the stock.

A number of other research firms have also commented on AMCX. Morgan Stanley lowered 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 report on Wednesday, June 22nd. Albert Fried & Company reissued a buy rating and issued a $76.00 price target on shares of AMC Networks in a research report on Sunday, September 25th. Zacks Investment Research raised shares of AMC Networks from a sell rating to a hold rating in a research report on Wednesday, August 10th. Loop Capital started coverage on shares of AMC Networks in a research report on Tuesday, August 9th. They issued a hold rating on the stock. Finally, Stifel Nicolaus lowered shares of AMC Networks from a buy rating to a hold rating and dropped their target price for the stock from $70.00 to $60.00 in a research report on Thursday, September 15th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. AMC Networks presently has an average rating of Buy and an average price target of $73.53.

AMC Networks (NASDAQ:AMCX) traded down 2.40% during mid-day trading on Thursday, hitting $51.26. 192,891 shares of the company were exchanged. The stock’s 50 day moving average is $52.92 and its 200-day moving average is $59.32. AMC Networks has a 12-month low of $49.93 and a 12-month high of $83.78. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 10.67 and a beta of 0.84.

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

Several large investors have recently modified their holdings of AMCX. Glenmede Trust Co. NA increased its position in shares of AMC Networks by 990.7% in the first quarter. Glenmede Trust Co. NA now owns 4,701 shares of the company’s stock valued at $304,000 after buying an additional 4,270 shares during the period. Renaissance Technologies LLC bought a new position in shares of AMC Networks during the first quarter valued at about $27,119,000. Geode Capital Management LLC increased its position in shares of AMC Networks by 4.8% in the first quarter. Geode Capital Management LLC now owns 386,935 shares of the company’s stock valued at $25,127,000 after buying an additional 17,710 shares during the period. State Street Corp increased its position in shares of AMC Networks by 1.1% in the first quarter. State Street Corp now owns 1,592,497 shares of the company’s stock valued at $103,407,000 after buying an additional 17,780 shares during the period. Finally, UBS Group AG increased its position in shares of AMC Networks by 167.8% in the first quarter. UBS Group AG now owns 32,514 shares of the company’s stock valued at $2,111,000 after buying an additional 20,371 shares during the period. Institutional investors own 83.72% 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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

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