AMC Networks (AMCX, Financial) experienced a notable stock movement with a 5.04% increase in its share price, reaching $9.92. The trading volume was 122,531 shares, with a turnover rate of 0.28% and a price fluctuation of 5.51%.
According to recent financial reports, AMC Networks reported $600 million in revenue, a net profit of $41.38 million, and earnings per share of $0.93. The company's gross profit was $289 million, with a price-to-earnings ratio of 13.94.
Analyst ratings are mixed: 25% of the eight participating institutions recommend buying, 25% suggest holding, and 50% advise selling.
In the broader entertainment industry, where AMC Networks operates, the sector saw an overall decline of 0.84%. However, related stocks such as iQIYI, Reading International Inc, and HUYA showed significant gains. Meanwhile, stocks like Color Star Technology, iQIYI, and Paramount Global-B were active with turnover rates of 669.25%, 4.87%, and 2.13%, respectively. Notably, Hall Of Fame Resort & Entertainment Company, Color Star Technology, and Alliance Entertainment Holding Corp exhibited large price swings of 39.77%, 37.24%, and 16.35%.
AMC Networks owns several linear pay-TV networks, including AMC, WE tv, BBC America, IFC, and SundanceTV. By the end of 2023, AMC reached nearly 65 million U.S. pay-TV households and had about 11.5 million U.S. streaming subscribers, with AMC+ as its flagship platform. The company focuses on niche audiences through its networks and streaming services, shifting from classic films to original scripted programming over the past 15 years.
