AMC Networks Inc (AMCX) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $1.28 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.27. The company posted revenue of $685.00 million in the period, compared to analysts expectations of $674.58 million. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS.
Many Wall Street Analysts have commented on AMC Networks Inc. Shares were Reiterated by Stifel on Jul 20, 2016 to “Buy” and Lowered the Price Target to $ 70 from a previous price target of $89 .Shares were Downgraded by UBS on Jul 15, 2016 to ” Sell” and Lowered the Price Target to $ 57 from a previous price target of $67 .AMC Networks Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 22, 2016.
AMC Networks Inc closed down -0.69 points or -1.24% at $54.75 with 4,02,194 shares getting traded on Tusday. Post opening the session at $55.61, the shares hit an intraday low of $54.53 and an intraday high of $55.67 and the price fluctuated in this range throughout the day.Shares ended Tusday 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.