AMC Networks Inc (AMCX) is Reiterated by Guggenheim to Buy, Lowers Price Target to $ 66

AMC Networks Inc (AMCX) was Reiterated by Guggenheim to “Buy” while Lowering the Price Target of the company shares to $ 66 from a previous price target of $77 . Guggenheim advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on AMC Networks Inc. Shares were Reiterated by Nomura on Sep 22, 2016 to “Buy” and Lowered the Price Target to $ 63 from a previous price target of $70 .Stifel Downgraded AMC Networks Inc on Sep 15, 2016 to ” Hold”, Price Target of the shares are set at $60.AMC Networks Inc was Initiated by Loop Capital to “Hold” on Aug 9, 2016.

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 -1 points or -1.90% at $51.52 with 5,18,143 shares getting traded on Friday. Post opening the session at $52.36, the shares hit an intraday low of $50.89 and an intraday high of $52.36 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.

AMC Networks Inc

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