AMC Networks (NASDAQ:AMCX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

AMC Networks (NASDAQ:AMCXGet Free Report) posted its quarterly earnings results on Friday. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04, MarketWatch Earnings reports. AMC Networks had a positive return on equity of 40.10% and a negative net margin of 0.91%. The business had revenue of $678.80 million for the quarter, compared to the consensus estimate of $675.97 million. During the same quarter in the prior year, the company earned $2.52 EPS. The business’s revenue was down 29.6% compared to the same quarter last year. AMC Networks updated its FY 2024 guidance to EPS.

AMC Networks Trading Down 15.4 %

AMC Networks stock opened at $14.41 on Friday. The stock has a 50-day moving average of $18.19 and a two-hundred day moving average of $14.53. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.46 and a current ratio of 1.46. AMC Networks has a one year low of $9.96 and a one year high of $27.46. The stock has a market cap of $627.66 million, a PE ratio of 2.94 and a beta of 1.29.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMCX shares. Seaport Res Ptn downgraded AMC Networks from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 12th. TheStreet downgraded AMC Networks from a “c-” rating to a “d” rating in a research report on Wednesday, November 1st. The Goldman Sachs Group dropped their price target on AMC Networks from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. Finally, StockNews.com upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, AMC Networks presently has an average rating of “Hold” and an average target price of $12.00.

View Our Latest Research Report on AMC Networks

Insider Buying and Selling at AMC Networks

In other AMC Networks news, Director Matthew Blank sold 50,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $19.09, for a total value of $954,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AMC Networks news, Director Matthew Blank sold 50,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $19.09, for a total value of $954,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Gallagher sold 22,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $20.40, for a total value of $448,800.00. Following the completion of the transaction, the executive vice president now directly owns 6,867 shares in the company, valued at $140,086.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,192 shares of company stock worth $1,604,874. 27.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its holdings in shares of AMC Networks by 20.6% in the third quarter. Public Employees Retirement System of Ohio now owns 7,070 shares of the company’s stock valued at $144,000 after purchasing an additional 1,208 shares during the period. State of Wyoming increased its holdings in shares of AMC Networks by 16.4% in the second quarter. State of Wyoming now owns 11,187 shares of the company’s stock valued at $134,000 after purchasing an additional 1,577 shares during the period. Quantbot Technologies LP acquired a new position in shares of AMC Networks in the first quarter valued at about $99,000. Quarry LP increased its holdings in shares of AMC Networks by 393.2% in the second quarter. Quarry LP now owns 7,427 shares of the company’s stock valued at $89,000 after purchasing an additional 5,921 shares during the period. Finally, US Bancorp DE grew its holdings in AMC Networks by 40.4% during the fourth quarter. US Bancorp DE now owns 4,518 shares of the company’s stock worth $85,000 after acquiring an additional 1,300 shares during the period. 59.77% of the stock is owned by institutional investors and hedge funds.

About AMC Networks

(Get Free Report)

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

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Earnings History for AMC Networks (NASDAQ:AMCX)

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