AMC Networks (AMCX) Stock Rising on Earnings Beat
NEW YORK (TheStreet) -- AMC Networks (AMCX) - Get Report stock is up by 4.28% to $74.83 in early-morning trading on Thursday, after the company's 2015 third quarter earnings results beat analysts' expectations.
The company, which owns cable TV channels such as AMC and BBC America, reported third quarter earnings of $1.09 per share, up from 83 cents per share for the year-ago period.
Revenue increased by 21.7% year over year to $632 million.
Analysts surveyed by Zacks Investment Research were expecting the company to report earnings of 87 cents per share.
"AMC Networks had outstanding performance in the quarter, with significant increases in net revenues and operating cash flow driven by the continued popularity of our networks' original programming, notably BBC AMERICA's "Doctor Who" and AMC's newest original series, "Fear the Walking Dead," which premiered to record numbers, becoming the biggest series debut in cable television history," AMC Networks CEO Josh Sapan said in a statement.
Separately, TheStreet Ratings team rates AMC NETWORKS INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
We rate AMC NETWORKS INC (AMCX) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good.
You can view the full analysis from the report here: AMCX
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