AMC Networks (NASDAQ:AMCX) Stock Rating Upgraded by Zacks Research

AMC Networks (NASDAQ:AMCX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on AMCX. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, October 8th. Wells Fargo & Company raised shares of AMC Networks from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $5.00 to $8.00 in a research report on Monday, November 10th. Seaport Res Ptn cut AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Finally, Morgan Stanley lifted 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. Three equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of $6.50.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $8.78 on Tuesday. The company has a market capitalization of $382.19 million, a price-to-earnings ratio of -2.34 and a beta of 1.04. The company has a debt-to-equity ratio of 1.76, a quick ratio of 2.12 and a current ratio of 2.12. AMC Networks has a fifty-two week low of $5.41 and a fifty-two week high of $10.60. The company has a 50 day simple moving average of $8.85 and a two-hundred day simple moving average of $7.68.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, November 7th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.13). The firm had revenue of $561.74 million for the quarter, compared to the consensus estimate of $549.27 million. AMC Networks had a negative net margin of 6.03% and a positive return on equity of 11.67%. AMC Networks’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. Analysts expect that AMC Networks will post 2.62 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Several institutional investors have recently modified their holdings of AMCX. Raymond James Financial Inc. acquired a new stake in shares of AMC Networks in the second quarter valued at $25,000. Nisa Investment Advisors LLC acquired a new position in AMC Networks during the second quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in AMC Networks by 133.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after purchasing an additional 2,735 shares during the period. Advisory Services Network LLC purchased a new position in shares of AMC Networks during the third quarter worth about $43,000. Finally, CWM LLC raised its stake in shares of AMC Networks by 50.4% during the second quarter. CWM LLC now owns 5,695 shares of the company’s stock worth $36,000 after purchasing an additional 1,909 shares during the last quarter. Institutional investors and hedge funds 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.