AMC Networks (NASDAQ:AMCX) Shares Pass Above 200-Day Moving Average – What’s Next?

AMC Networks Inc. (NASDAQ:AMCX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.43 and traded as high as $10.46. AMC Networks shares last traded at $10.08, with a volume of 510,706 shares changing hands.

Analyst Ratings Changes

Several equities analysts have weighed in on AMCX shares. Weiss Ratings raised AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 21st. Morgan Stanley set a $7.00 price target on AMC Networks in a report on Thursday, April 30th. Finally, Wells Fargo & Company raised their price target on AMC Networks from $8.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

AMC Networks Stock Down 1.2%

The stock has a fifty day moving average price of $8.66 and a 200 day moving average price of $8.43. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $442.79 million, a P/E ratio of 16.80 and a beta of 1.35.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.14). AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The company had revenue of $542.13 million during the quarter, compared to the consensus estimate of $540.67 million. During the same period in the previous year, the business earned $0.52 earnings per share. AMC Networks’s revenue was down 2.4% on a year-over-year basis. On average, research analysts forecast that AMC Networks Inc. will post 1.82 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of AMC Networks in the second quarter worth $25,000. Northwestern Mutual Wealth Management Co. raised its position in shares of AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after buying an additional 2,735 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of AMC Networks in the third quarter worth $43,000. Kestra Advisory Services LLC purchased a new stake in shares of AMC Networks in the fourth quarter worth $63,000. Finally, State of Wyoming purchased a new stake in shares of AMC Networks in the second quarter worth $51,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

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.