The Goldman Sachs Group Trims AMC Networks (NASDAQ:AMCX) Target Price to $42.00

AMC Networks (NASDAQ:AMCX) had its target price reduced by The Goldman Sachs Group from $58.00 to $42.00 in a research report report published on Wednesday morning, Price Targets.com reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of AMC Networks from a buy rating to a hold rating in a research report on Tuesday. Macquarie cut their price objective on shares of AMC Networks from $57.00 to $42.00 and set a neutral rating on the stock in a research report on Tuesday, December 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AMC Networks from $45.00 to $48.00 and gave the company a sell rating in a research note on Wednesday, November 10th. Finally, Morgan Stanley lowered their price target on shares of AMC Networks from $47.00 to $43.00 and set an equal weight rating on the stock in a research note on Wednesday, December 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $50.33.

AMCX opened at $42.20 on Wednesday. The company has a fifty day moving average price of $39.81 and a two-hundred day moving average price of $46.25. The company has a debt-to-equity ratio of 3.16, a quick ratio of 2.24 and a current ratio of 2.24. AMC Networks has a 52 week low of $32.96 and a 52 week high of $83.63. The firm has a market capitalization of $1.78 billion, a PE ratio of 5.63 and a beta of 1.07.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, November 5th. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $1.57. The company had revenue of $810.80 million for the quarter, compared to analysts’ expectations of $703.89 million. AMC Networks had a net margin of 10.75% and a return on equity of 68.19%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. Equities analysts forecast that AMC Networks will post 9.32 EPS for the current year.

In other news, Vice Chairman Joshua W. Sapan sold 40,000 shares of the business’s stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $36.67, for a total transaction of $1,466,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 28.56% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in AMC Networks by 1.3% in the 2nd quarter. BlackRock Inc. now owns 4,882,302 shares of the company’s stock valued at $326,138,000 after buying an additional 64,137 shares during the last quarter. Vanguard Group Inc. grew its stake in AMC Networks by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,152,703 shares of the company’s stock valued at $210,601,000 after buying an additional 39,723 shares during the last quarter. Contrarius Investment Management Ltd grew its stake in AMC Networks by 2.8% in the 2nd quarter. Contrarius Investment Management Ltd now owns 2,259,355 shares of the company’s stock valued at $150,925,000 after buying an additional 62,406 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in AMC Networks by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,237,283 shares of the company’s stock valued at $82,650,000 after buying an additional 62,110 shares during the last quarter. Finally, FMR LLC grew its stake in AMC Networks by 7.3% in the 2nd quarter. FMR LLC now owns 1,166,498 shares of the company’s stock valued at $77,922,000 after buying an additional 79,079 shares during the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.

About AMC Networks

AMC Networks, Inc is a holding company, which engages in owning and management of cable television networks through its subsidiaries. It operates through the National Networks and International and Other segments. The National Networks segment includes activities of AMC Studios operations, AMC Broadcasting and Technology, and national programming networks, namely: AMC, WEtv, BBC AMERICA, IFC, and SundanceTV in the U.

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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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