In a report released yesterday, Kutgun Maral from RBC Capital maintained a Buy rating on AMC Networks (AMCX), with a price target of $30.00. The company’s shares closed last Thursday at $24.04, close to its 52-week low of $19.62.
According to TipRanks.com, Maral is a 2-star analyst with an average return of 2.0% and a 44.4% success rate. Maral covers the Services sector, focusing on stocks such as Charter Communications, Sirius XM Holdings, and Warner Music Group.
Currently, the analyst consensus on AMC Networks is a Hold with an average price target of $25.43.
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Based on AMC Networks’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $734 million and net profit of $68.67 million. In comparison, last year the company earned revenue of $784 million and had a net profit of $143 million.
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AMC Networks, Inc. is a holding company, which engages in owning and management of cable television networks through its subsidiaries. It operates through the National Networks and International and Other segments. The National Networks segment includes activities of AMC Studios operations, AMC Broadcasting and Technology, and national programming networks, namely: AMC, WEtv, BBC AMERICA, IFC, and SundanceTV in the U. S.; and AMC, IFC, and Sundance Channel in Canada. The International and Other segment comprises AMC Networks International (AMCNI), the 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 independent film distribution business; and subscription streaming services, Sundance Now and Shudder. The company was founded by Charles Francis Dolan on March 9, 2011 and is headquartered in New York, NY.
