AMC Networks Inc (AMCX) was Downgraded by UBS to ” Sell” while Lowering the Price Target of the company shares to $ 57 from a previous price target of $67 . Earlier the firm had a rating of “Neutral ” on the company shares. UBS advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on AMC Networks Inc. AMC Networks Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 22, 2016. AMC Networks Inc was Upgraded by Macquarie to ” Outperform” on Apr 26, 2016.
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 closed down -2.48 points or -4.20% at $56.59 with 13,77,075 shares getting traded on Friday. Post opening the session at $58.17, the shares hit an intraday low of $56.35 and an intraday high of $58.2 and the price fluctuated in this range throughout the day.Shares ended Friday 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.