AMC Networks Inc. (AMCX) Cut to Sell at Zacks Investment Research
AMC Networks Inc. (NASDAQ:AMCX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “
A number of other research analysts also recently weighed in on the company. FBR & Co assumed coverage on AMC Networks in a research note on Thursday. They issued an “outperform” rating for the company. FBN Securities restated an “outperform” rating on shares of AMC Networks in a research note on Thursday. Albert Fried & Company restated a “buy” rating and issued a $76.00 price target on shares of AMC Networks in a research note on Sunday, September 25th. Nomura decreased their price target on AMC Networks from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 22nd. Finally, Credit Agricole SA set a $89.00 price target on AMC Networks and gave the company a “buy” rating in a research note on Saturday, September 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $73.53.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/amc-networks-inc-amcx-cut-to-sell-at-zacks-investment-research.html
Shares of AMC Networks (NASDAQ:AMCX) traded down 0.10% on Monday, hitting $51.47. The company had a trading volume of 324,042 shares. The firm has a 50-day moving average price of $52.64 and a 200 day moving average price of $59.06. The company has a market capitalization of $3.67 billion, a P/E ratio of 10.72 and a beta of 0.84. AMC Networks has a 12-month low of $49.93 and a 12-month high of $83.78.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.28. The firm earned $685 million during the quarter, compared to the consensus estimate of $676.87 million. AMC Networks had a return on equity of 1,153.89% and a net margin of 13.08%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. Equities analysts expect that AMC Networks will post $5.56 EPS for the current year.
Several institutional investors have recently modified their holdings of AMCX. I.G. Investment Management LTD. raised its position in shares of AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock valued at $108,000 after buying an additional 1,288 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of AMC Networks during the second quarter valued at about $120,000. Acrospire Investment Management LLC raised its position in shares of AMC Networks by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock valued at $193,000 after buying an additional 2,400 shares during the last quarter. Wrapmanager Inc. raised its position in shares of AMC Networks by 4.7% in the second quarter. Wrapmanager Inc. now owns 3,711 shares of the company’s stock valued at $224,000 after buying an additional 168 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock valued at $227,000 after buying an additional 1,501 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.
AMC Networks Company Profile
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AMC Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.