AMC Networks Stock Slips: What's Behind the Sharp Revenue and EPS Decline?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
0mins
Source: Benzinga
- Revenue and Earnings: AMC Networks Inc. reported a 16.9% revenue decline in the first quarter of fiscal year 2024, with adjusted EPS falling by 55.7%.
- Domestic Operations: The company experienced declines in affiliate revenue, advertising revenues, and content licensing revenues due to various factors.
- Streaming Subscribers: Despite setbacks, AMC Networks saw a 2% increase in streaming subscribers, reaching 11.5 million, driven by offerings like AMC+ and new content additions.
- Financial Performance: Consolidated adjusted operating income decreased by 30.9%, with free cash flow at $144.15 million.
- Market Response: AMC Networks stock dropped nearly 8% in the past year, and investors can access the stock through specific ETFs.
Analyst Views on AMCX
Wall Street analysts forecast AMCX stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMCX is 6.67 USD with a low forecast of 6.00 USD and a high forecast of 8.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
0 Buy
4 Hold
1 Sell
Hold
Current: 7.940
Low
6.00
Averages
6.67
High
8.00
Current: 7.940
Low
6.00
Averages
6.67
High
8.00
About AMCX
AMC Networks Inc. is an entertainment company. The Company creates and curates series and films across distinct brands and makes them available to audiences everywhere. The Company’s Domestic Operations segment consists of its five programming networks, its streaming services, its AMC Studios operation and its film distribution business. Its programming networks are AMC, We TV, BBC AMERICA, IFC, and SundanceTV. Its streaming services consist of AMC+ and its targeted subscription streaming services (Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE). Its AMC Studios operation produces original programming for its programming services and third parties and also licenses programming worldwide. Its film distribution business includes Independent Film Company, RLJ Entertainment Films and Shudder. The International segment consists of AMC Networks International (AMCNI), its international programming businesses consisting of a portfolio of channels distributed around the world.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
