AMC Networks Inc (AMCX) is Downgraded by Stifel to Hold, Price Target at $60

AMC Networks Inc (AMCX) was Downgraded by Stifel to ” Hold” and the brokerage firm has set the Price Target at $60. Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on Sep 15, 2016.

Many Wall Street Analysts have commented on AMC Networks Inc. AMC Networks Inc was Initiated by Loop Capital to “Hold” on Aug 9, 2016. 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 .

On the company’s financial health, AMC Networks Inc reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.27. The company had revenue of $685.00 million for the quarter, 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.

AMC Networks Inc closed down -0.05 points or -0.10% at $51.97 with 587,860 shares getting traded on Wednesday. Post opening the session at $51.98, the shares hit an intraday low of $51.61 and an intraday high of $52.5 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.

AMC Networks Inc

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