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

AMC Networks Inc. (NASDAQ:AMCX) has been given a consensus recommendation of “Strong Sell” by the six brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.00.

AMCX has been the subject of several recent analyst reports. Zacks Research upgraded shares of AMC Networks from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Morgan Stanley upped their price target on AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, December 18th. Wells Fargo & Company raised their price objective on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Finally, Seaport Research Partners lowered AMC Networks from a “strong-buy” rating to a “hold” rating in a research report on Sunday, December 14th.

AMC Networks Price Performance

Shares of AMCX stock opened at $7.55 on Friday. The stock’s 50-day moving average is $8.71 and its 200 day moving average is $8.00. AMC Networks has a 1-year low of $5.41 and a 1-year high of $10.27. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.67 and a quick ratio of 2.12. The company has a market cap of $328.65 million, a P/E ratio of 5.51 and a beta of 1.12.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.14. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. The business had revenue of $594.80 million during the quarter, compared to the consensus estimate of $581.83 million. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. Research analysts predict that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

A number of institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of AMC Networks by 33.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 791,874 shares of the company’s stock worth $6,549,000 after buying an additional 199,186 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of AMC Networks by 9.9% in the 2nd quarter. Acadian Asset Management LLC now owns 365,819 shares of the company’s stock valued at $2,292,000 after acquiring an additional 32,825 shares during the period. Allianz Asset Management GmbH purchased a new position in AMC Networks in the 2nd quarter worth $356,000. Atria Investments Inc lifted its position in AMC Networks by 103.2% during the 2nd quarter. Atria Investments Inc now owns 37,842 shares of the company’s stock worth $237,000 after acquiring an additional 19,216 shares during the period. Finally, RWWM Inc. lifted its position in AMC Networks by 22.7% during the 2nd quarter. RWWM Inc. now owns 3,330,026 shares of the company’s stock worth $20,879,000 after acquiring an additional 617,105 shares during the period. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.