AMC Networks (NASDAQ:AMCX) Lowered to Hold at StockNews.com

StockNews.com cut shares of AMC Networks (NASDAQ:AMCXGet Rating) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other analysts also recently weighed in on AMCX. Morgan Stanley reduced their target price on shares of AMC Networks from $43.00 to $42.00 and set an equal weight rating on the stock in a report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of AMC Networks from $45.00 to $32.00 and set a sell rating on the stock in a report on Tuesday, February 22nd. Guggenheim reduced their target price on shares of AMC Networks from $44.00 to $35.00 in a report on Friday, May 6th. Wells Fargo & Company cut their price target on shares of AMC Networks from $45.00 to $32.00 and set an underweight rating on the stock in a report on Thursday, February 17th. Finally, Zacks Investment Research upgraded shares of AMC Networks from a sell rating to a hold rating in a report on Wednesday, February 23rd. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $40.00.

Shares of AMCX stock opened at $40.54 on Thursday. The stock has a market cap of $1.72 billion, a P/E ratio of 6.59 and a beta of 0.96. AMC Networks has a 52 week low of $31.10 and a 52 week high of $72.80. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.86. The company’s fifty day simple moving average is $37.76 and its two-hundred day simple moving average is $39.31.

AMC Networks (NASDAQ:AMCXGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $2.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.09). AMC Networks had a return on equity of 45.15% and a net margin of 8.64%. The business had revenue of $712.16 million during the quarter, compared to the consensus estimate of $760.80 million. During the same quarter last year, the firm earned $2.98 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that AMC Networks will post 8.42 EPS for the current fiscal year.

In other news, EVP James Gallagher sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $40.00, for a total value of $800,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 28.56% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AMCX. Arizona State Retirement System lifted its position in AMC Networks by 3.5% during the third quarter. Arizona State Retirement System now owns 7,534 shares of the company’s stock valued at $351,000 after acquiring an additional 255 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in AMC Networks by 2.9% during the first quarter. Maryland State Retirement & Pension System now owns 11,823 shares of the company’s stock valued at $480,000 after acquiring an additional 336 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in AMC Networks by 7.8% during the third quarter. Advisor Group Holdings Inc. now owns 4,850 shares of the company’s stock valued at $225,000 after acquiring an additional 350 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its position in AMC Networks by 3.1% during the first quarter. Roberts Glore & Co. Inc. IL now owns 12,483 shares of the company’s stock valued at $507,000 after acquiring an additional 375 shares during the last quarter. Finally, Investors Research Corp lifted its position in AMC Networks by 32.0% during the first quarter. Investors Research Corp now owns 1,650 shares of the company’s stock valued at $67,000 after acquiring an additional 400 shares during the last quarter. 78.02% of the stock is owned by hedge funds and other institutional investors.

AMC Networks Company Profile (Get Rating)

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

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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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