Amc Networks (NASDAQ:AMCX) Shares Gap Up to $20.77

Amc Networks Inc (NASDAQ:AMCX) gapped up before the market opened on Wednesday . The stock had previously closed at $20.77, but opened at $24.05. Amc Networks shares last traded at $24.86, with a volume of 120,031 shares trading hands.

Several analysts have commented on AMCX shares. Goldman Sachs Group started coverage on shares of Amc Networks in a research note on Monday, July 13th. They set a “sell” rating and a $19.00 price objective for the company. Guggenheim decreased their price objective on shares of Amc Networks from $31.00 to $27.00 in a research note on Friday, August 14th. BidaskClub cut shares of Amc Networks from a “sell” rating to a “strong sell” rating in a research note on Friday, September 4th. Macquarie upgraded shares of Amc Networks from a “neutral” rating to an “outperform” rating and set a $29.00 price objective for the company in a research note on Friday, August 7th. Finally, Imperial Capital lifted their price objective on shares of Amc Networks from $25.00 to $26.00 and gave the company an “in-line” rating in a research note on Tuesday, May 19th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $32.54.

The stock has a market cap of $1.17 billion, a PE ratio of 7.15 and a beta of 0.89. The business has a 50-day moving average of $23.79 and a 200 day moving average of $25.48. The company has a debt-to-equity ratio of 4.16, a quick ratio of 2.38 and a current ratio of 2.38.

Amc Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $2.39 EPS for the quarter, beating the consensus estimate of $1.16 by $1.23. The company had revenue of $646.29 million during the quarter, compared to analysts’ expectations of $623.83 million. Amc Networks had a return on equity of 65.61% and a net margin of 6.66%. The firm’s revenue was down 16.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.60 EPS. Equities analysts expect that Amc Networks Inc will post 6.06 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Hanson & Doremus Investment Management increased its holdings in shares of Amc Networks by 11.8% during the 2nd quarter. Hanson & Doremus Investment Management now owns 3,813 shares of the company’s stock valued at $89,000 after acquiring an additional 402 shares during the last quarter. US Bancorp DE grew its position in Amc Networks by 18.0% in the second quarter. US Bancorp DE now owns 3,533 shares of the company’s stock valued at $84,000 after acquiring an additional 539 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Amc Networks by 23.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,417 shares of the company’s stock valued at $80,000 after acquiring an additional 649 shares in the last quarter. Rhumbline Advisers grew its position in Amc Networks by 0.6% in the first quarter. Rhumbline Advisers now owns 118,808 shares of the company’s stock valued at $2,888,000 after acquiring an additional 693 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Amc Networks by 22.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,992 shares of the company’s stock valued at $97,000 after buying an additional 741 shares during the last quarter. Institutional investors and hedge funds own 86.11% of the company’s stock.

Amc Networks Company Profile (NASDAQ:AMCX)

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.

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