AMC Networks Inc. (NASDAQ:AMCX) Given Average Rating of “Reduce” by Analysts

AMC Networks Inc. (NASDAQ:AMCX) has been given an average rating of “Reduce” by the five ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $5.38.

Several analysts have weighed in on the company. Wall Street Zen upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on AMC Networks from $8.00 to $6.00 and set an “underweight” rating for the company in a report on Monday, May 12th. UBS Group decreased their target price on AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley decreased their target price on AMC Networks from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Monday, May 12th.

AMC Networks Stock Down 4.1%

Shares of AMCX opened at $6.24 on Monday. The firm has a market cap of $280.34 million, a P/E ratio of -1.19 and a beta of 1.38. The stock has a 50 day simple moving average of $6.33 and a two-hundred day simple moving average of $7.79. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.38. AMC Networks has a 1 year low of $5.41 and a 1 year high of $16.38.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm had revenue of $555.23 million during the quarter, compared to analysts’ expectations of $567.23 million. During the same period in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts forecast that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

A number of institutional investors have recently added to or reduced their stakes in AMCX. Empowered Funds LLC raised its holdings in AMC Networks by 5.1% in the fourth quarter. Empowered Funds LLC now owns 184,535 shares of the company’s stock worth $1,827,000 after purchasing an additional 9,035 shares in the last quarter. Angeles Wealth Management LLC purchased a new stake in AMC Networks in the fourth quarter worth about $176,000. Rhumbline Advisers grew its holdings in AMC Networks by 2.9% in the fourth quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock worth $597,000 after purchasing an additional 1,680 shares during the period. Principal Financial Group Inc. grew its holdings in AMC Networks by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock worth $229,000 after purchasing an additional 2,043 shares during the period. Finally, Ieq Capital LLC purchased a new stake in AMC Networks in the fourth quarter worth about $414,000. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.