AMC Networks Inc. (AMCX, Financial) stock saw a significant drop of 5.11%, trading at $7.80 per share with a volume of 186,899 shares and a turnover rate of 0.42%. The stock's amplitude was 4.93%.
Recent earnings reports show AMC Networks generated $626 million in revenue, but faced a net loss of $29.23 million, resulting in an earnings per share of -$0.66. The company maintains a gross profit of $319 million and a price-to-earnings ratio of 6.01.
Analyst ratings reveal that out of eight participating institutions, 13% recommend buying, 38% suggest holding, and 49% advise selling the stock. The entertainment industry, where AMC Networks primarily operates, experienced an overall growth of 0.61%.
Notable performers in the industry include Alliance Entertainment Holding Corp, Brera Holdings Plc, and Cineverse Corp, with significant turnover rates of 4.55%, 3.11%, and 2.33% respectively. Stocks with considerable price amplitude include Alliance Entertainment Corp, Anghami Inc, and Kuwo Music, with amplitudes of 64.50%, 60.00%, and 32.86% respectively.
AMC Networks is known for owning several pay-TV networks such as AMC, WE tv, and SundanceTV, and reaching nearly 65 million pay-TV households in the U.S. by the end of 2023. It also has around 11.5 million U.S. streaming subscribers, primarily through its AMC+ platform. The company has shifted its focus from classic films to original scripted programming in the past 15 years, creating content through AMC Studios and earning revenue through content licensing. Following international asset divestitures at the end of 2023, domestic operations now account for nearly 90% of its total revenue.
