AMC Networks (AMCX) Shares Up 6.2%

Shares of AMC Networks Inc. (NASDAQ:AMCX) shot up 6.2% during trading on Tuesday . The stock traded as high as $56.19 and last traded at $56.15. 1,607,700 shares changed hands during trading, an increase of 113% from the average session volume of 753,941 shares. The stock had previously closed at $52.86.

AMCX has been the subject of several research reports. ValuEngine upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Group reiterated a “hold” rating and issued a $65.00 target price on shares of AMC Networks in a report on Tuesday, September 12th. Cowen reiterated a “hold” rating and issued a $53.00 target price on shares of AMC Networks in a report on Thursday, September 21st. Piper Jaffray Companies set a $60.00 target price on shares of AMC Networks and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Morgan Stanley dropped their target price on shares of AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. AMC Networks currently has an average rating of “Hold” and a consensus target price of $60.58.

The stock has a market cap of $3,443.91, a P/E ratio of 8.00, a P/E/G ratio of 1.04 and a beta of 1.10. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 37.53.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.53. The business had revenue of $648.00 million during the quarter, compared to the consensus estimate of $660.79 million. AMC Networks had a net margin of 12.12% and a return on equity of 948.45%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. analysts anticipate that AMC Networks Inc. will post 7.05 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Advisor Group Inc. grew its stake in shares of AMC Networks by 24.4% in the second quarter. Advisor Group Inc. now owns 2,111 shares of the company’s stock worth $112,000 after acquiring an additional 414 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of AMC Networks by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after acquiring an additional 181 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in shares of AMC Networks in the second quarter worth $153,000. Riverhead Capital Management LLC grew its stake 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 worth $172,000 after acquiring an additional 1,328 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake 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 worth $175,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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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.

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