AMC Networks (AMCX) Downgraded to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of AMC Networks (NASDAQ:AMCX) from a buy rating to a hold rating in a research note released on Tuesday.
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. “
Several other research firms have also recently weighed in on AMCX. Cowen reiterated a hold rating and set a $53.00 price objective on shares of AMC Networks in a research report on Thursday, September 21st. Wells Fargo & Co began coverage on AMC Networks in a research report on Tuesday, October 10th. They issued an outperform rating and a $72.00 price target on the stock. Guggenheim cut AMC Networks from a buy rating to a neutral rating in a research report on Thursday, October 12th. BidaskClub upgraded AMC Networks from a strong sell rating to a sell rating in a research report on Tuesday, December 19th. Finally, TheStreet upgraded AMC Networks from a c rating to a b- rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. AMC Networks has an average rating of Hold and a consensus price target of $61.42.
AMC Networks (AMCX) traded up $0.87 on Tuesday, reaching $52.40. The company had a trading volume of 627,595 shares, compared to its average volume of 763,571. AMC Networks has a twelve month low of $46.89 and a twelve month high of $67.61. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 37.53. The company has a market cap of $3,130.00, a PE ratio of 10.34, a PEG ratio of 0.99 and a beta of 1.10.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.53. The firm had revenue of $648.00 million for the quarter, compared to analysts’ expectations of $660.79 million. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 EPS. analysts predict that AMC Networks will post 7.01 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of AMCX. Investec Asset Management LTD increased its holdings in AMC Networks by 45.0% in the third quarter. Investec Asset Management LTD now owns 1,799,372 shares of the company’s stock worth $105,209,000 after purchasing an additional 558,579 shares in the last quarter. AJO LP increased its holdings in AMC Networks by 121.4% in the second quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after purchasing an additional 546,211 shares in the last quarter. American Century Companies Inc. bought a new stake in AMC Networks in the third quarter worth approximately $20,212,000. JPMorgan Chase & Co. increased its holdings in AMC Networks by 206.7% in the second quarter. JPMorgan Chase & Co. now owns 505,435 shares of the company’s stock worth $26,996,000 after purchasing an additional 340,632 shares in the last quarter. Finally, AXA increased its holdings in AMC Networks by 468.7% in the third quarter. AXA now owns 245,100 shares of the company’s stock worth $14,331,000 after purchasing an additional 202,000 shares in the last quarter. Institutional investors and hedge funds own 86.83% of the company’s stock.
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About AMC Networks
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. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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