AMC Networks (NASDAQ:AMCX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of AMC Networks (NASDAQ:AMCX) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

AMCX has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded AMC Networks from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $5.00 to $8.00 in a research report on Monday, November 10th. Morgan Stanley increased their price objective on shares of AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday, December 18th. Finally, Seaport Res Ptn lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Three investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, AMC Networks has a consensus rating of “Strong Sell” and an average price target of $6.50.

AMC Networks Trading Down 2.0%

Shares of NASDAQ AMCX opened at $8.78 on Tuesday. AMC Networks has a 1-year low of $5.41 and a 1-year high of $10.60. The company has a 50-day moving average of $8.85 and a two-hundred day moving average of $7.68. The company has a market cap of $382.19 million, a PE ratio of -2.34 and a beta of 1.04. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 1.76.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). AMC Networks had a negative net margin of 6.03% and a positive return on equity of 11.67%. The company had revenue of $561.74 million during the quarter, compared to analyst estimates of $549.27 million. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts expect that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in AMC Networks during the 3rd quarter worth approximately $43,000. Jacobs Levy Equity Management Inc. raised its holdings in AMC Networks by 1.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 351,198 shares of the company’s stock valued at $2,894,000 after buying an additional 6,417 shares during the last quarter. Verition Fund Management LLC purchased a new stake in AMC Networks during the 3rd quarter valued at $90,000. Public Employees Retirement System of Ohio grew its holdings in AMC Networks by 12.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,748 shares of the company’s stock worth $278,000 after acquiring an additional 3,752 shares during the last quarter. Finally, Numerai GP LLC purchased a new position in shares of AMC Networks in the third quarter valued at about $193,000. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.