AMC Networks (NASDAQ:AMCX) Rating Lowered to Strong Sell at Zacks Research

AMC Networks (NASDAQ:AMCX) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Weiss Ratings raised AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, July 2nd. Morgan Stanley set a $7.00 price target on AMC Networks in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus price target of $8.50.

AMC Networks Price Performance

AMC Networks stock opened at $9.79 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.75. AMC Networks has a 1-year low of $5.41 and a 1-year high of $11.13. The company has a fifty day simple moving average of $9.82 and a 200 day simple moving average of $8.56. The company has a market cap of $430.07 million, a P/E ratio of 16.32 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The business had revenue of $542.13 million for the quarter, compared to the consensus estimate of $540.67 million. During the same period last year, the firm earned $0.52 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Research analysts anticipate that AMC Networks will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

Hedge funds have recently bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new position in AMC Networks during the first quarter worth about $1,060,000. Quantinno Capital Management LP raised its stake in AMC Networks by 8.4% in the first quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock valued at $379,000 after buying an additional 4,325 shares during the period. Gabelli Funds LLC lifted its position in shares of AMC Networks by 2.4% in the first quarter. Gabelli Funds LLC now owns 127,500 shares of the company’s stock valued at $866,000 after buying an additional 3,000 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of AMC Networks by 261.7% during the 1st quarter. Cetera Investment Advisers now owns 41,175 shares of the company’s stock worth $280,000 after acquiring an additional 29,792 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of AMC Networks by 18.5% during the 1st quarter. First Trust Advisors LP now owns 19,720 shares of the company’s stock worth $134,000 after acquiring an additional 3,074 shares during the period. 78.51% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Company Profile

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.