AMC Networks (AMCX) reports earnings tomorrow: what to expect
Television broadcasting and production company AMC Networks (NASDAQ:AMCX) will be reporting results this Monday after the bell. Here’s what you need to know.
AMC Networks missed analysts’ revenue expectations last quarter, reporting revenues of $547.5 million, down 8.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates.
Is AMC Networks a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting AMC Networks’s revenue to grow 1.7% year on year, a reversal from the 6.3% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. AMC Networks has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at AMC Networks’s peers in the consumer discretionary - broadcasting segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 22.3%, beating analysts’ expectations by 6.5%, and E.W. Scripps reported revenues up 3.6%, falling short of estimates by 0.5%. FOX traded up 6.1% following the results while E.W. Scripps was also up 8.5%.
Read our full analysis of FOX’s results here and E.W. Scripps’s results here.
There has been positive sentiment among investors in the consumer discretionary - broadcasting segment, with share prices up 4.7% on average over the last month. AMC Networks is down 22.5% during the same time and is heading into earnings with an average analyst price target of $9.67 (compared to the current share price of $8.38).
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