Analysts Set AMC NETWORKS INC Common Stock (AMCX) PT at $61.70

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Shares of AMC NETWORKS INC Common Stock (NASDAQ:AMCX) have been assigned an average rating of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $61.70.

Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of AMC NETWORKS INC Common Stock from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Royal Bank of Canada set a $65.00 price objective on shares of AMC NETWORKS INC Common Stock and gave the stock a “hold” rating in a research note on Friday, May 11th. ValuEngine downgraded shares of AMC NETWORKS INC Common Stock from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. BidaskClub downgraded shares of AMC NETWORKS INC Common Stock from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, Sanford C. Bernstein downgraded shares of AMC NETWORKS INC Common Stock from a “market perform” rating to an “underperform” rating in a research note on Thursday, June 21st.

NASDAQ AMCX traded up $0.73 during trading on Monday, hitting $63.15. The stock had a trading volume of 407,982 shares, compared to its average volume of 449,337. The company has a debt-to-equity ratio of 16.00, a current ratio of 2.46 and a quick ratio of 2.46. The company has a market cap of $3.55 billion, a P/E ratio of 8.57, a PEG ratio of 0.78 and a beta of 0.74. AMC NETWORKS INC Common Stock has a one year low of $46.89 and a one year high of $69.02.

AMC NETWORKS INC Common Stock (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 2nd. The company reported $1.93 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.16). The firm had revenue of $761.39 million during the quarter, compared to the consensus estimate of $731.99 million. AMC NETWORKS INC Common Stock had a return on equity of 278.30% and a net margin of 17.22%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.88 EPS. equities research analysts expect that AMC NETWORKS INC Common Stock will post 8.31 EPS for the current year.

In other news, EVP James Gallagher sold 2,300 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The shares were sold at an average price of $67.01, for a total transaction of $154,123.00. Following the transaction, the executive vice president now directly owns 15,003 shares of the company’s stock, valued at $1,005,351.03. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Edward A. Carroll sold 11,700 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $66.72, for a total transaction of $780,624.00. Following the transaction, the chief operating officer now directly owns 42,868 shares in the company, valued at $2,860,152.96. The disclosure for this sale can be found here. Company insiders own 20.97% of the company’s stock.

Large investors have recently modified their holdings of the company. Advisors Preferred LLC increased its position in shares of AMC NETWORKS INC Common Stock by 265.9% during the second quarter. Advisors Preferred LLC now owns 2,009 shares of the company’s stock worth $125,000 after acquiring an additional 1,460 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of AMC NETWORKS INC Common Stock during the first quarter worth approximately $120,000. Oppenheimer Asset Management Inc. purchased a new position in shares of AMC NETWORKS INC Common Stock during the second quarter worth approximately $213,000. Creative Planning purchased a new position in shares of AMC NETWORKS INC Common Stock during the second quarter worth approximately $245,000. Finally, Wrapmanager Inc. purchased a new position in AMC NETWORKS INC Common Stock during the first quarter valued at approximately $207,000. 84.58% of the stock is currently owned by institutional investors and hedge funds.

About AMC NETWORKS INC Common Stock

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

Read More: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for AMC NETWORKS INC Common Stock (NASDAQ:AMCX)

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