TheStreet Upgrades AMC Networks Inc. (AMCX) to “B-“

TheStreet upgraded shares of AMC Networks Inc. (NASDAQ:AMCX) from a c rating to a b- rating in a report issued on Friday, July 28th.

Several other research analysts have also recently issued reports on the stock. Moffett Nathanson reissued a sell rating on shares of AMC Networks in a report on Friday, June 9th. Zacks Investment Research cut shares of AMC Networks from a buy rating to a hold rating in a report on Friday, July 14th. BidaskClub raised shares of AMC Networks from a buy rating to a strong-buy rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies cut shares of AMC Networks from an overweight rating to a neutral rating in a report on Monday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. AMC Networks presently has a consensus rating of Hold and an average target price of $61.25.

AMC Networks (NASDAQ:AMCX) opened at 60.26 on Friday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 13.17 and a beta of 1.06. The firm has a 50-day moving average price of $59.87 and a 200 day moving average price of $57.52. AMC Networks has a one year low of $46.17 and a one year high of $67.61.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.47. AMC Networks had a net margin of 11.40% and a return on equity of 683.16%. The business had revenue of $710.55 million during the quarter, compared to the consensus estimate of $715.23 million. During the same period in the previous year, the firm posted $1.15 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts expect that AMC Networks will post $6.64 earnings per share for the current fiscal year.

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AMC Networks declared that its board has authorized a stock repurchase plan on Wednesday, June 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 13.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. raised its position in AMC Networks by 24.4% in the second quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock valued at $112,000 after buying an additional 414 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in AMC Networks by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock valued at $116,000 after buying an additional 181 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of AMC Networks during the second quarter valued at approximately $153,000. Riverhead Capital Management LLC raised its position in shares of AMC Networks by 69.9% in the second quarter. Riverhead Capital Management LLC now owns 3,228 shares of the company’s stock valued at $172,000 after buying an additional 1,328 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of AMC Networks by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 3,274 shares of the company’s stock valued at $175,000 after buying an additional 88 shares in the last quarter. Institutional investors own 82.81% of the company’s stock.

About AMC Networks

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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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