The stock of AMC Networks Inc. (NASDAQ:AMCX) last traded at $17.64, up 3.10% from the previous session.
Data from the available sources indicates that AMC Networks Inc. (NASDAQ:AMCX) is covered by 10 analysts. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $10.00, we find $19.00. Given the previous closing price of $17.11, this indicates a potential upside of 11.05 percent. AMCX stock price is now -2.70% away from the 50-day moving average and -33.93% away from the 200-day moving average. The market capitalization of the company currently stands at $757.29M.
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In total, 6 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $20.33 as their price target over the next twelve months.
With the price target enhanced from $32 to $48, Deutsche Bank Downgraded its rating from Hold to Sell for AMC Networks Inc. (NASDAQ: AMCX). On May 14, 2021, Goldman Upgraded its previous ‘Sell’ rating to ‘Neutral’ on the stock increasing its target price from $49 to quote $51, while ‘Wells Fargo’ rates the stock as ‘Underweight’.
In other news, Gallagher James, EVP and General Counsel sold 20,000 shares of the company’s stock on Mar 11. The stock was sold for $800,000 at an average price of $40.00. Upon completion of the transaction, the EVP and General Counsel now directly owns 19,923 shares in the company, valued at $0.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01, Executive Vice Chairman Sapan Joshua W sold 40,000 shares of the business’s stock. A total of $1,632,062 was realized by selling the stock at an average price of $40.80. This leaves the insider owning 282,865 shares of the company worth $4.99 million. Insiders disposed of 330,609 shares of company stock worth roughly $5.83 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMCX stock. A new stake in AMC Networks Inc. shares was purchased by SOUTH DAKOTA INVESTMENT COUNCIL during the first quarter worth $1,375,000. RENAISSANCE TECHNOLOGIES LLC invested $882,000 in shares of AMCX during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in AMC Networks Inc. valued at approximately $608,000. EXCHANGE TRADED CONCEPTS, LLC acquired a new stake in AMCX for approximately $405,000. CHIMERA CAPITAL MANAGEMENT LLC purchased a new stake in AMCX valued at around $378,000 in the second quarter. In total, there are 311 active investors with 89.10% ownership of the company’s stock.
With an opening price of $17.14 on Monday morning, AMC Networks Inc. (NASDAQ: AMCX) set off the trading day. During the past 12 months, AMC Networks Inc. has had a low of $14.45 and a high of $44.66. As of last week, the company has a debt-to-equity ratio of 2.84, a current ratio of 1.80, and a quick ratio of 1.80. The fifty day moving average price for AMCX is $18.10 and a two-hundred day moving average price translates $26.59 for the stock.
The latest earnings results from AMC Networks Inc. (NASDAQ: AMCX) was released for Jun, 2022. According to the Broadcasting Company, earnings per share came in at $2.06, missing analysts’ expectations of $2.31 by -0.25. This compares to $2.73 EPS in the same period last year. The net profit margin was 9.90% and return on equity was 30.90% for AMCX. The company reported revenue of $681.84 million for the quarter, compared to $810.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.9 percent. For the current quarter, analysts expect AMCX to generate $787.56M in revenue.
AMC Networks Inc.(AMCX) 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. The Domestic Operations segment operates various national programming networks, including the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV; provides subscription streaming services comprising Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE, as well as AMC+ and other streaming initiatives; and engages in film distribution business under the IFC Films name. This segment also produces and licenses original programming for various programming networks, as well as services the national programming networks. The International and Other segment operates a portfolio of channels under the AMCNI name; and production and comedy venues activities under the Levity name. AMC Networks Inc. was founded in 1980 and is headquartered in New York, New York.
