Barclays Maintains an 'Equalweight' on AMC Networks (AMCX); Ad Revenues Growth, But Still Issue with Margins
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Price: $12.36 +2.83%
Rating Summary:
11 Buy, 14 Hold, 6 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 14 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Equalweight' on AMC Networks (NASDAQ: AMCX) price target raised from $34 to $40.
Analyst, Anthony DiClemente, said, "AMCX reported 4Q results that came in above expectations on revenues but well below on AOCF, as elevated programming expenses (including a write-off of $18M) drove the downside. While we believe AMCX can achieve above-market ad growth in 1Q and FY12, we remain guarded on margins nearer-term. We are lowering our 1Q EPS estimate to $0.44 from $0.45, but we are raising our price target as we believe AMCX's accelerating EPS growth warrants a premium valuation multiple."
Barclays expects AMCX to spend more cash on programming, so DiClemente lowes FY12 free-cash-flow estimate from $$230 mln to $202 mln. FY12 EPS estimate was also lowered from $2.35 to $2.25.
For an analyst ratings summary and ratings history on AMC Networks click here. For more ratings news on AMC Networks click here.
Shares of AMC Networks closed at $44.00 yesterday.
Analyst, Anthony DiClemente, said, "AMCX reported 4Q results that came in above expectations on revenues but well below on AOCF, as elevated programming expenses (including a write-off of $18M) drove the downside. While we believe AMCX can achieve above-market ad growth in 1Q and FY12, we remain guarded on margins nearer-term. We are lowering our 1Q EPS estimate to $0.44 from $0.45, but we are raising our price target as we believe AMCX's accelerating EPS growth warrants a premium valuation multiple."
Barclays expects AMCX to spend more cash on programming, so DiClemente lowes FY12 free-cash-flow estimate from $$230 mln to $202 mln. FY12 EPS estimate was also lowered from $2.35 to $2.25.
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 $44.00 yesterday.
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