AMC Networks (AMCX, Financial) experienced a notable stock fluctuation with a sharp decline of 5.03%. The stock is currently priced at $8.50 per share, with a trading volume of 109,072 shares and a turnover rate of 0.25%, alongside a price volatility of 4.80%.
Recent financial reports reveal AMC Networks achieved a revenue of $600 million, a net profit of $41.38 million, and earnings per share of $0.93. The company's gross profit stands at $289 million, with a price-to-earnings ratio of 12.01. Analyst ratings are mixed, with 25% recommending a buy, 25% suggesting a hold, and 50% advising a sell.
In the broader entertainment industry, the overall decline was 0.20%. Noteworthy performers in the sector include Alliance Entertainment Holding Corp, Hall Of Fame Resort & Entertainment Company, and Kuke Music, which saw significant gains. Meanwhile, Color Star Technology, Dave & Buster's Entertainment, Inc., and AMC Theatres showed active trading. Stocks with high volatility include Hall Of Fame Resort & Entertainment Company and Alliance Entertainment Holding Corp.
AMC Networks operates multiple linear pay-TV networks such as AMC, WE tv, BBC America, IFC, and SundanceTV, reaching nearly 65 million U.S. households by the end of 2023. The company also boasts around 11.5 million U.S. streaming subscribers, with AMC+ as its flagship platform. Its focus has shifted from classic films to original scripted programming, generating revenue through content creation and licensing. After international asset divestment, domestic operations contribute nearly 90% of total revenue.
