Maxim Group Maintains a 'Hold' on AMC Networks (AMCX); Continuing to Build Programming but Not Inexpensive

Maxim Group maintains a 'Hold' on AMC Networks (NASDAQ: AMCX).

Maxim analyst says, "Lowering revenue estimates but raising EBITDA estimates due to the beat – we are lowering our FY11 revenue estimates to $1,158M (up 7% y/y) down from previous estimates of $1,172M. We are also slightly lowering our FY12 revenue estimates to 1,259M (up 9% y/y) down from our previous estimates of $1,274M. We are raising our FY11 EBITDA estimates to $447M (up 11% y/y) from our prior estimates of $439M due the beat in the current quarter. We are maintaining our FY12 EBITDA estimate of $478M (up 7% y/y) due to concerns regarding higher marketing and production expenses. Consensus estimates for EBITDA are $438M and $485M, respectively."

"We continue to recommend investors remain on the sidelines due to relative valuation concerns."

For an analyst ratings summary and ratings history on AMC Networks click here. For more ratings news on AMC Networks click here.

Shares of AMC Networks closed at $34.42 yesterday.

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