Barclays Maintains an 'Equalweight' on AMC Networks (AMCX); 4Q Earnings Growth Anything But Dead
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Price: $12.39 +1.64%
Rating Summary:
11 Buy, 14 Hold, 6 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
11 Buy, 14 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Barclays maintains an 'Equalweight' on AMC Networks (NASDAQ: AMCX) price target lifted $2 to $34.
Barclays analyst says, "AMCX reported 3Q results which were light on revenues but ahead of our expectations on operating income and EPS, given costs savings from lower marketing and corporate expenses. Free cash flow of $80.5M was solidly ahead of our estimates, and we were encouraged to see that management paid down $51.5M in debt during the quarter, already starting to build equity value for shareholders. We expect the timing of programming on AMC to favorably impact ad revenues in 4Q and 2012, and are taking up our EPS estimates accordingly. We are raising our price target to $34 on account of our higher estimates, but we are maintaining our rating, as we believe shares are near full valuation relative to the group."
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.
Barclays analyst says, "AMCX reported 3Q results which were light on revenues but ahead of our expectations on operating income and EPS, given costs savings from lower marketing and corporate expenses. Free cash flow of $80.5M was solidly ahead of our estimates, and we were encouraged to see that management paid down $51.5M in debt during the quarter, already starting to build equity value for shareholders. We expect the timing of programming on AMC to favorably impact ad revenues in 4Q and 2012, and are taking up our EPS estimates accordingly. We are raising our price target to $34 on account of our higher estimates, but we are maintaining our rating, as we believe shares are near full valuation relative to the group."
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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