AMC Networks Inc. (NASDAQ:AMCX) Receives Consensus Recommendation of “Strong Sell” from Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have earned an average rating of “Strong Sell” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $6.50.

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of AMC Networks from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $5.00 to $8.00 in a report on Monday, November 10th. Zacks Research lowered AMC Networks from a “hold” rating to a “strong sell” rating in a report on Thursday, December 4th. Seaport Res Ptn cut AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, Morgan Stanley raised their price target on AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Thursday, December 18th.

Hedge Funds Weigh In On AMC Networks

Several institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC increased its stake in shares of AMC Networks by 10.8% in the first quarter. Hsbc Holdings PLC now owns 17,178 shares of the company’s stock valued at $120,000 after purchasing an additional 1,674 shares during the period. Man Group plc increased its position in AMC Networks by 6.7% in the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after acquiring an additional 1,735 shares during the period. First Trust Advisors LP boosted its position in AMC Networks by 18.2% during the 3rd quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock worth $99,000 after acquiring an additional 1,840 shares during the period. CWM LLC boosted its position in AMC Networks by 50.4% during the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock worth $36,000 after acquiring an additional 1,909 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of AMC Networks by 1.6% in the first quarter. Gabelli Funds LLC now owns 136,000 shares of the company’s stock worth $936,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Performance

AMCX stock opened at $9.65 on Friday. The stock’s 50 day simple moving average is $8.51 and its 200 day simple moving average is $7.48. AMC Networks has a 12-month low of $5.41 and a 12-month high of $10.60. The firm has a market cap of $419.85 million, a P/E ratio of -2.57 and a beta of 1.06. 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 released its quarterly earnings data on Friday, November 7th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). The business had revenue of $561.74 million during the quarter, compared to analyst estimates of $549.27 million. AMC Networks had a positive return on equity of 11.67% and a negative net margin of 6.03%.The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, equities research analysts predict that AMC Networks will post 2.62 EPS for the current 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.