AMC Networks Inc. (NASDAQ:AMCX) Receives Average Rating of “Hold” from Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been given a consensus recommendation of “Hold” by the five ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.3333.

A number of research firms have recently weighed in on AMCX. Morgan Stanley raised their price target 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. Weiss Ratings raised shares of AMC Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Wells Fargo & Company upped their price target on shares of AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. UBS Group raised their price objective on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a report on Wednesday. Finally, Zacks Research raised AMC Networks from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday, August 4th.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of AMC Networks by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock worth $21,366,000 after purchasing an additional 462,457 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AMC Networks by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock worth $17,881,000 after buying an additional 132,013 shares during the period. Marshall Wace LLP grew its position in shares of AMC Networks by 3.2% in the 3rd quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock valued at $12,069,000 after buying an additional 45,093 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of AMC Networks by 35.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock valued at $9,423,000 after buying an additional 349,373 shares during the period. Finally, UBS Group AG raised its position in shares of AMC Networks by 13.2% during the third quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after acquiring an additional 136,771 shares during the last quarter. 78.51% of the stock is owned by institutional investors.

AMC Networks Price Performance

Shares of AMC Networks stock traded up $0.01 on Wednesday, reaching $11.80. 49,979 shares of the stock were exchanged, compared to its average volume of 518,475. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $486.75 million, a PE ratio of -14.36 and a beta of 1.33. The firm’s 50 day moving average is $10.23 and its 200-day moving average is $8.78. AMC Networks has a one year low of $6.47 and a one year high of $12.52.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm had revenue of $547.50 million during the quarter, compared to the consensus estimate of $555.74 million. During the same period last year, the business earned $0.69 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. As a group, analysts anticipate that AMC Networks will post 2.77 EPS for the current fiscal year.

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.