Seaport Res Ptn Predicts Lower Earnings for AMC Networks

AMC Networks Inc. (NASDAQ:AMCX - Free Report) - Analysts at Seaport Res Ptn decreased their Q3 2024 earnings estimates for AMC Networks in a report issued on Monday, October 21st. Seaport Res Ptn analyst D. Joyce now forecasts that the company will post earnings per share of $1.09 for the quarter, down from their prior estimate of $2.15. Seaport Res Ptn has a "Strong-Buy" rating on the stock. The consensus estimate for AMC Networks' current full-year earnings is $4.86 per share. Seaport Res Ptn also issued estimates for AMC Networks' FY2024 earnings at $5.06 EPS, Q2 2025 earnings at $1.32 EPS, Q3 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.49 EPS, FY2025 earnings at $5.58 EPS and FY2026 earnings at $5.51 EPS.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings results on Friday, August 9th. The company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.28). AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The company had revenue of $625.90 million for the quarter, compared to analysts' expectations of $601.41 million. During the same quarter in the previous year, the business earned $2.02 EPS. The company's revenue for the quarter was down 7.8% on a year-over-year basis.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut AMC Networks from a "buy" rating to a "hold" rating in a research note on Friday, July 12th. Wells Fargo & Company lowered their price target on shares of AMC Networks from $11.00 to $8.00 and set an "underweight" rating on the stock in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $9.50.

AMC Networks Stock Performance

Shares of AMCX traded up $0.21 during mid-day trading on Thursday, hitting $8.13. The stock had a trading volume of 516,303 shares, compared to its average volume of 1,070,591. The company has a debt-to-equity ratio of 2.17, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market cap of $353.94 million, a P/E ratio of 2.28 and a beta of 1.28. AMC Networks has a 52 week low of $7.08 and a 52 week high of $20.97. The business has a fifty day moving average price of $8.75 and a 200-day moving average price of $10.98.

Institutional Trading of AMC Networks

A number of institutional investors have recently added to or reduced their stakes in AMCX. Price T Rowe Associates Inc. MD grew its holdings in AMC Networks by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company's stock valued at $520,000 after buying an additional 1,434 shares in the last quarter. EMC Capital Management grew its stake in AMC Networks by 23.8% during the first quarter. EMC Capital Management now owns 7,792 shares of the company's stock valued at $95,000 after acquiring an additional 1,500 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in AMC Networks by 6.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company's stock worth $302,000 after acquiring an additional 2,150 shares during the period. Quarry LP lifted its stake in AMC Networks by 119.2% in the 2nd quarter. Quarry LP now owns 4,295 shares of the company's stock worth $41,000 after purchasing an additional 2,336 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in AMC Networks by 6.1% in the 1st quarter. Swiss National Bank now owns 57,000 shares of the company's stock valued at $691,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 78.51% of the company's stock.

About AMC Networks

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.