AMC Networks Inc. (NASDAQ:AMCX) Receives $5.38 Average PT from Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received a consensus recommendation of “Reduce” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $5.38.

A number of research firms have recently commented on AMCX. Wall Street Zen upgraded AMC Networks from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Morgan Stanley lowered their target price on AMC Networks from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Monday, May 12th. UBS Group lowered their target price on AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their target price on AMC Networks from $8.00 to $6.00 and set an “underweight” rating for the company in a research note on Monday, May 12th. Finally, Wells Fargo & Company lowered their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, April 17th.

AMC Networks Price Performance

Shares of AMCX stock opened at $6.98 on Monday. The firm has a market cap of $313.59 million, a P/E ratio of -1.33 and a beta of 1.38. AMC Networks has a fifty-two week low of $5.41 and a fifty-two week high of $17.50. The business’s 50 day moving average price is $6.30 and its 200-day moving average price is $7.83. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, May 9th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.21). The firm had revenue of $555.23 million during the quarter, compared to analysts’ expectations of $567.23 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. On average, equities research analysts anticipate that AMC Networks will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AMCX. Empowered Funds LLC raised its stake in AMC Networks by 5.1% during the fourth quarter. Empowered Funds LLC now owns 184,535 shares of the company’s stock valued at $1,827,000 after buying an additional 9,035 shares during the last quarter. Angeles Wealth Management LLC purchased a new position in AMC Networks during the fourth quarter valued at $176,000. Rhumbline Advisers raised its stake in AMC Networks by 2.9% during the fourth quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock valued at $597,000 after buying an additional 1,680 shares during the last quarter. Principal Financial Group Inc. raised its stake in AMC Networks by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock valued at $229,000 after buying an additional 2,043 shares during the last quarter. Finally, Ieq Capital LLC purchased a new position in AMC Networks during the fourth quarter valued at $414,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.