AMC Networks Inc. (NASDAQ:AMCX – Get Rating)’s share price gapped down prior to trading on Friday . The stock had previously closed at $33.15, but opened at $30.47. AMC Networks shares last traded at $29.09, with a volume of 3,972 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of AMC Networks from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Tuesday, July 26th. StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Moffett Nathanson dropped their price objective on AMC Networks to $30.00 in a research note on Friday, July 22nd. Morgan Stanley dropped their price objective on AMC Networks from $40.00 to $35.00 in a research note on Monday, July 18th. Finally, Guggenheim dropped their price target on AMC Networks from $44.00 to $35.00 in a research note on Friday, May 6th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, AMC Networks has an average rating of “Hold” and an average target price of $34.29.
AMC Networks Stock Down 12.7%
The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $1.23 billion, a PE ratio of 4.70 and a beta of 1.03. The company’s fifty day moving average price is $31.49 and its 200-day moving average price is $36.30.
AMC Networks (NASDAQ:AMCX – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.39. The business had revenue of $712.16 million for the quarter, compared to the consensus estimate of $760.80 million. AMC Networks had a return on equity of 45.15% and a net margin of 8.64%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.98 EPS. Analysts forecast that AMC Networks Inc. will post 8.23 earnings per share for the current year.
Institutional Trading of AMC Networks
Institutional investors have recently bought and sold shares of the stock. Strs Ohio purchased a new position in AMC Networks in the 1st quarter worth approximately $65,000. Investors Research Corp boosted its position in shares of AMC Networks by 32.0% in the 1st quarter. Investors Research Corp now owns 1,650 shares of the company’s stock valued at $67,000 after purchasing an additional 400 shares during the period. Banque Cantonale Vaudoise increased its position in AMC Networks by 78.7% during the second quarter. Banque Cantonale Vaudoise now owns 1,826 shares of the company’s stock worth $53,000 after buying an additional 804 shares during the period. Captrust Financial Advisors grew its stake in shares of AMC Networks by 78.4% in the 1st quarter. Captrust Financial Advisors now owns 1,984 shares of the company’s stock valued at $81,000 after purchasing an additional 872 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of AMC Networks in the first quarter valued at approximately $99,000. 78.02% of the stock is currently owned by institutional investors and hedge funds.
AMC Networks Company Profile
AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.
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