AMC Networks Inc. (NASDAQ:AMCX – Get Free Report) has been assigned an average recommendation of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.3333.
A number of research firms have recently issued reports on AMCX. UBS Group upped their target price on shares of AMC Networks from $6.00 to $10.00 and gave the stock a “sell” rating in a report on Wednesday, August 12th. Wells Fargo & Company boosted their price target on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Morgan Stanley upped their price objective on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a research note on Friday, July 31st. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings cut AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th.
View Our Latest Research Report on AMCX
AMC Networks Stock Performance
AMC Networks (NASDAQ:AMCX – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 earnings per share. As a group, equities research analysts expect that AMC Networks will post 2.77 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AMC Networks
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of AMC Networks by 35.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after acquiring an additional 349,373 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of AMC Networks in the first quarter valued at about $1,060,000. Lone Peak Global Investors LLC increased its position in AMC Networks by 1.9% during the second quarter. Lone Peak Global Investors LLC now owns 44,829 shares of the company’s stock worth $447,000 after purchasing an additional 833 shares during the last quarter. Quantinno Capital Management LP increased its position in AMC Networks by 8.4% during the first quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock worth $379,000 after purchasing an additional 4,325 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in AMC Networks by 261.7% during the first quarter. Cetera Investment Advisers now owns 41,175 shares of the company’s stock worth $280,000 after purchasing an additional 29,792 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.
About AMC Networks
AMC Networks Inc (NASDAQ: AMCX) is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.
The company’s core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.
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