AMC Networks (AMCX) got here out with quarterly earnings of $1.32 per share, beating the Zacks Cons
AMC Networks (AMCX) got here out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $2.33 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 22.22%. 1 / 4 in the past, it was anticipated that this proprietor of cable channels together with AMC and IFC would publish earnings of $1.26 per share when it really produced earnings of $2.39, delivering a shock of 89.68%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
AMC Networks, which belongs to the Zacks Broadcast Radio and Tv business, posted revenues of $654.02 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 5.72%. This compares to year-ago revenues of $718.60 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.
The sustainability of the inventory’s fast value motion primarily based on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
AMC Networks shares have misplaced about 46.2% because the starting of the yr versus the S&P 500’s achieve of 1.2%.
What’s Subsequent for AMC Networks?
Whereas AMC Networks has underperformed the market to date this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any straightforward solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking software just like the Zacks Rank, which has a powerful monitor document of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for AMC Networks was combined. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You’ll be able to see the entire checklist of at this time’s Zacks #1 Rank (Robust Purchase) shares right here.
It is going to be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.53 on $737.25 million in revenues for the approaching quarter and $5.42 on $2.70 billion in revenues for the present fiscal yr.
Traders ought to be aware of the truth that the outlook for the business can have a fabric impression on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Broadcast Radio and Tv is at the moment within the prime 49% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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AMC Networks Inc. (AMCX): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.