Seaport Res Ptn Comments on AMC Networks Inc.’s FY2023 Earnings (NASDAQ:AMCX)

AMC Networks Inc. (NASDAQ:AMCX) – Investment analysts at Seaport Res Ptn raised their FY2023 earnings per share (EPS) estimates for shares of AMC Networks in a research note issued to investors on Sunday, November 5th. Seaport Res Ptn analyst D. Joyce now expects that the company will post earnings per share of $7.52 for the year, up from their prior estimate of $6.94. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for AMC Networks’ current full-year earnings is $6.97 per share. Seaport Res Ptn also issued estimates for AMC Networks’ Q4 2023 earnings at $1.03 EPS, FY2024 earnings at $7.95 EPS and FY2025 earnings at $9.76 EPS.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on AMC Networks from $18.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 18th. Wells Fargo & Company dropped their target price on AMC Networks from $15.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, July 31st. StockNews.com started coverage on AMC Networks in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley reiterated an “underweight” rating and issued a $12.00 price objective on shares of AMC Networks in a research note on Monday, August 7th. Finally, The Goldman Sachs Group decreased their price objective on AMC Networks from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

AMC Networks Stock Down 3.2 %

Shares of NASDAQ:AMCX opened at $13.62 on Wednesday. The company has a market capitalization of $592.61 million, a price-to-earnings ratio of -19.18 and a beta of 1.16. The company has a current ratio of 1.46, a quick ratio of 1.34 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average price of $11.86 and a 200 day moving average price of $12.57. AMC Networks has a 12-month low of $9.96 and a 12-month high of $27.46.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Friday, November 3rd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.54. The firm had revenue of $636.90 million during the quarter, compared to the consensus estimate of $655.99 million. AMC Networks had a positive return on equity of 40.10% and a negative net margin of 0.91%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the company earned $2.09 EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AMCX. American Century Companies Inc. grew its holdings in AMC Networks by 26.6% during the first quarter. American Century Companies Inc. now owns 9,462 shares of the company’s stock worth $384,000 after acquiring an additional 1,987 shares during the period. PNC Financial Services Group Inc. grew its holdings in AMC Networks by 18.6% during the first quarter. PNC Financial Services Group Inc. now owns 4,788 shares of the company’s stock worth $195,000 after acquiring an additional 751 shares during the period. Bank of Montreal Can grew its holdings in AMC Networks by 5.0% during the first quarter. Bank of Montreal Can now owns 9,179 shares of the company’s stock worth $393,000 after acquiring an additional 437 shares during the period. MetLife Investment Management LLC boosted its position in AMC Networks by 54.0% during the first quarter. MetLife Investment Management LLC now owns 15,600 shares of the company’s stock worth $634,000 after purchasing an additional 5,467 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in AMC Networks by 4.6% during the first quarter. Rhumbline Advisers now owns 90,044 shares of the company’s stock worth $3,658,000 after purchasing an additional 3,996 shares in the last quarter. Institutional investors and hedge funds own 59.77% 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 and a platform to distributors and advertisers in the United States and internationally. The company operates through Domestic Operations, and International and Other.