Television broadcasting and production company AMC Networks (NASDAQ: AMCX) will be reporting earnings tomorrow before market hours. Here’s what you need to know.
AMC Networks missed analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $599.3 million, down 11.7% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a miss of analysts’ Affiliate revenue estimates.
Is AMC Networks a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting AMC Networks’s revenue to decline 4.4% year on year to $570.3 million, improving from the 16.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.81 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. AMC Networks has missed Wall Street’s revenue estimates four times over the last two years.
Looking at AMC Networks’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hasbro delivered year-on-year revenue growth of 17.1%, beating analysts’ expectations by 14.8%, and Marcus & Millichap reported revenues up 12.3%, topping estimates by 3.5%. Hasbro traded up 15.9% following the results.
Read our full analysis of Hasbro’s results here and Marcus & Millichap’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 3.8% on average over the last month. AMC Networks is up 8% during the same time and is heading into earnings with an average analyst price target of $8 (compared to the current share price of $6.63).
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