AMC Networks Inc (AMCX) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $1.99 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.18. Analysts had a consensus of $1.81. The company posted revenue of $706.57 million in the period, compared to analysts expectations of $694.10 million. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS.
Many Wall Street Analysts have commented on AMC Networks Inc. AMC Networks Inc was Upgraded by Macquarie to ” Outperform” on Apr 26, 2016. AMC Networks Inc was Initiated by Jefferies to “Hold” on Apr 5, 2016. Shares were Reiterated by Topeka Capital Markets on Mar 30, 2016 to “Hold” and Lowered the Price Target to $ 69 from a previous price target of $71 .
AMC Networks Inc closed down -0.11 points or -0.17% at $63.65 with 9,09,917 shares getting traded on Wednesday. Post opening the session at $63.88, the shares hit an intraday low of $62.89 and an intraday high of $64.27 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 26, 2015, James Gallagher (EVP and General Counsel) sold 1,000 shares at $77.49 per share price. According to the SEC, on May 7, 2015, Edward A Carroll (Chief Operating Officer) sold 8,250 shares at $79.21 per share price. On Mar 19, 2015, John P Giraldo (Chief Accounting Officer) sold 3,976 shares at $72.18 per share price, according to the Form-4 filing with the securities and exchange commission.
AMC Networks Inc. is a holding company which conducts all of its operations through its majority-owned or controlled subsidiaries. The Company owns and operates various cable television brands. The Company manages its business through two segments: National Networks which includes five programming networks: AMC WE tv BBC AMERICA IFC and SundanceTV which are available to its distributors in high-definition and/or standard-definition formats and International and Other which principally includes AMC Networks International the Company’s international programming businesses consisting of a portfolio of channels in Europe Latin America the Middle East and parts of Asia and Africa; IFC Films the Company’s independent film distribution business; AMC Networks International – DMC (formerly Chello DMC) the broadcast solutions unit of certain networks of AMC Networks International and third party networks; and various developing on-line content distribution initiatives.