AMC Networks Stock Soars After Q4 EPS and Revenue Beats

  • Post category:Stock Trading
  • Reading time:9 mins read
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In this article we discuss AMC Networks stock breaking above its 200 day moving average line after eye-popping EPS and revenue beats for Q4.

AMC Networks is an entertainment company that owns and manages a variety of video entertainment products that are distributed to audiences and used as a platform by distributors and advertisers both domestically and abroad. Domestic Operations and International and Other are the two business divisions. The Domestic Operations segment manages a number of national television networks, such as AMC, WE tv, BBC AMERICA, IFC, and SundanceTV; offers subscription streaming services, such as Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE; and operates AMC and other streaming initiatives. It also operates an IFC Films-branded film distribution company. In addition to providing services to the national programming networks, this segment also creates and grants original programming licenses to a number of programming networks. The International and Other business unit runs a number of channels under the AMCNI brand, as well as production and comedy venues under the Levity brand.

AMC Networks Stock

AMC Networks stock broke above its 200 day moving average on February 17, 2023, after the company reported its quarterly financials.

AMC Networks stock chart on February 19 2023 with a break above its 200 day moving average
AMC Networks stock chart on February 19 2023 with a break above its 200 day moving average

AMC networks stock price rocketed up 32% after punching through its 200 day moving average. AMC networks stock currently trades 38% below its 52-week high.

AMC Networks Reports Fourth Quarter Beats on EPS and Revenue

AMC Networks reported Q4 adjusted EPS of $2.52 versus the consensus estimate of $1.20. The company reported Q4 revenue of $964.52M versus the consensus estimate of $947.78M.

AMC Networks Interim Executive Chairman James Dolan said: “AMC Networks is focused on maximizing the value of our high-quality, popular content through optimized content monetization as we reduce costs and drive cash flow. We believe this approach will position the company well to navigate current industry dynamics and enable us to generate long-term shareholder value.”

Operational Highlights:

  • Launched new Anne Rice Universe franchise with Anne Rice’s Interview with the Vampire, which became the #1 new series launch in AMC+ history and the #2 new basic cable drama in 2022.
  • Kicked off 2023 with the second series in the franchise, Anne Rice’s Mayfair Witches, which is pacing to become the most viewed single season of any show on AMC+, topping Interview’s performance, and is a Top 10 cable drama in the current broadcast season.
  • Renewed both Anne Rice’s Interview with the Vampire and Anne Rice’s Mayfair Witches for second seasons.
  • Premiered the final season of The Walking Dead, which concluded with AMC+’s highest single day of viewership ever and which commanded the series’ highest pricing in its 11-year run, demonstrating high audience engagement and advertiser demand for the franchise.
  • Bringing fans of The Walking Dead Universe a new season of Fear the Walking Dead and two new series: The Walking Dead: Dead City and The Walking Dead: Daryl Dixon, in 2023.
  • Renewed WE tv franchise hits Love After Lockup, Life After Lockup, Love During Lockup and Growing Up Hip Hop for new seasons.
  • Renewed six multi-year carriage agreements, with Charter, Altice, Philo, Mediacom and WOW! for continued carriage of U.S. channel portfolio and with Bell for continued carriage of AMC in Canada.
  • Tested innovative new pricing and packaging offer with Verizon’s +play Early Access, where Verizon mobile and 5G Home customers were offered 12 months of Netflix Premium for free with the purchase of a 12-month subscription to AMC+.

Frequently Asked Questions

What is AMC Networks stock symbol?

AMC Networks stock symbol is AMCX and it trades on the NASDAQ stock exchange.

What is AMC Networks Inc Class A’s stock style?

AMC Networks Inc Class A’s stock is classified as a common stock.

How have AMCX shares performed in 2023?

AMCX shares have performed exceptionally well in 2023, rising from $14.51 in January to over $27 by mid-February. AMC Networks stock is up over 73% year-to-date.

Is AMC Networks Inc. (AMCX) a buy, sell, or hold?

AMC Networks stock is a buy with the break above the 200 day moving average; however, a stock going above its 200 day moving average can be interpreted as a sign of strength, but this does not guarantee a profitable trade. Other factors must be taken into account, such as the company’s fundamental performance and other technical indicators.

Do any famous traders hold AMC Networks stock?

Yes, several famous traders hold AMC Networks stock, including hedge fund manager David Einhorn and hedge fund manager George Soros.
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