AMC Networks (NASDAQ:AMCX) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

by · The Cerbat Gem

AMC Networks (NASDAQ:AMCX – Get Free Report) announced its quarterly earnings results on Friday. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05, Briefing.com reports. The company had revenue of $599.60 million for the quarter, compared to analysts’ expectations of $587.12 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. AMC Networks’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.85 earnings per share.

AMC Networks Trading Up 2.5 %

Shares of AMCX stock traded up $0.21 on Friday, reaching $8.56. 2,757,174 shares of the company’s stock were exchanged, compared to its average volume of 1,062,109. The company’s fifty day simple moving average is $8.33 and its 200 day simple moving average is $10.79. The stock has a market capitalization of $377.48 million, a PE ratio of 6.53 and a beta of 1.29. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.17. AMC Networks has a 52 week low of $7.08 and a 52 week high of $20.97.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AMC Networks has a consensus rating of “Hold” and an average price target of $9.50.

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About AMC Networks

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AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.

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