AMC Networks Inc (AMCX) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 22, 2016.
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 .
On the company’s financial health, AMC Networks Inc reported $1.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on May 5, 2016. Analyst had a consensus of $1.81. The company had revenue of $706.57 million for the quarter, 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.
AMC Networks Inc opened for trading at $60.25 and hit $60.84 on the upside on Monday, eventually ending the session at $60.46, with a gain of 1.61% or 0.96 points. The heightened volatility saw the trading volume jump to 4,75,038 shares. Company has a market cap of $4,394 M.
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.