AMC Networks Inc. (NASDAQ:AMCX – Get Free Report) has been assigned a consensus rating of “Strong Sell” from the five research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.33.
Several analysts have commented on AMCX shares. Morgan Stanley lifted their price target on AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. Zacks Research lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 10th. Wells Fargo & Company raised their target price 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. UBS Group boosted their target price on shares of AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings lowered shares of AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.
Check Out Our Latest Analysis on AMC Networks
Insider Buying and Selling at AMC Networks
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in AMC Networks by 35.1% during the first 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 last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of AMC Networks in the first quarter worth $1,060,000. Bank of New York Mellon Corp raised its stake in shares of AMC Networks by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 144,015 shares of the company’s stock valued at $978,000 after acquiring an additional 4,649 shares during the period. Gabelli Funds LLC raised its stake in shares of AMC Networks by 2.4% in the 1st quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after acquiring an additional 3,000 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of AMC Networks by 69.6% during the 1st quarter. Principal Financial Group Inc. now owns 80,732 shares of the company’s stock valued at $548,000 after acquiring an additional 33,127 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.
AMC Networks Stock Down 0.5%
Shares of NASDAQ:AMCX opened at $11.16 on Thursday. The firm’s 50 day moving average price is $11.88 and its 200 day moving average price is $9.91. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. The stock has a market cap of $460.35 million, a price-to-earnings ratio of -13.61 and a beta of 1.39. AMC Networks has a fifty-two week low of $6.47 and a fifty-two week high of $12.93.
AMC Networks (NASDAQ:AMCX – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The business had revenue of $547.50 million for the quarter, compared to analysts’ expectations of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The company’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 earned $0.69 EPS. As a group, equities research analysts predict that AMC Networks will post 2.41 earnings per share for the current fiscal year.
AMC Networks Company Profile
AMC Networks Inc is an entertainment company that develops, produces, and distributes television and digital content. Its portfolio includes national cable networks such as AMC, WE tv, IFC, SundanceTV, and BBC America, along with streaming services including AMC+, Acorn TV, Shudder, ALLBLK, and HIDIVE.
The company’s programming spans scripted dramas, films, documentaries, unscripted series, anime, and other specialty content. AMC Networks also licenses and distributes its programming through pay-TV providers, digital platforms, and international channels, serving audiences in the United States and selected markets worldwide.
AMC Networks traces its roots to Rainbow Media, a Cablevision subsidiary that operated several specialty television networks.
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