Stock Story -
Television broadcasting and production company AMC Networks (NASDAQ:AMCX) will be reporting results tomorrow morning. Here's what to look for.
AMC Networks met analysts' revenue expectations last quarter, reporting revenues of $596.5 million, down 16.9% year on year. It was a weak quarter for the company, with a miss of analysts' Advertising revenue and earnings estimates.
Is AMC Networks a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting AMC Networks's revenue to decline 11.4% year on year to $601.5 million, a further deceleration from the 8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.65 per share.
The majority of analysts covering the company have 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 five times over the last two years.
Looking at AMC Networks's peers in the broadcasting segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Sinclair delivered year-on-year revenue growth of 7.9%, missing analysts' expectations by 1.1%, and TEGNA reported a revenue decline of 2.9%, in line with consensus estimates.
Read the full analysis of Sinclair's and TEGNA's results on StockStory.
Investors in the broadcasting segment have had fairly steady hands going into earnings, with share prices down 1% on average over the last month. AMC Networks is up 3.9% during the same time and is heading into earnings with an average analyst price target of $12.8 (compared to the current share price of $10.45).
![AMC Networks (AMCX) Reports Earnings Tomorrow: What To Expect](https://d68-invdn-com.investing.com/content/pic6699f1287f4d0d5c13b88dca9c8cc883.jpeg)