Zacks Research Upgrades AMC Networks (NASDAQ:AMCX) to “Strong-Buy”

AMC Networks (NASDAQ:AMCX) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company upped their target price on AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Morgan Stanley lifted their price objective on AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. Finally, Weiss Ratings raised shares of AMC Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.50.

AMC Networks Stock Performance

AMC Networks stock opened at $12.03 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76. The company has a market capitalization of $528.48 million, a PE ratio of -14.67 and a beta of 1.33. The company has a 50 day moving average price of $10.09 and a 200-day moving average price of $8.67. AMC Networks has a fifty-two week low of $5.68 and a fifty-two week high of $12.44.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $547.50 million during the quarter, compared to the consensus estimate of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. As a group, equities analysts forecast that AMC Networks will post 2.52 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of AMC Networks by 13.8% during the fourth quarter. CWM LLC now owns 11,858 shares of the company’s stock worth $113,000 after buying an additional 1,437 shares during the period. Cerity Partners LLC lifted its stake in AMC Networks by 14.1% during the 4th quarter. Cerity Partners LLC now owns 11,903 shares of the company’s stock worth $113,000 after acquiring an additional 1,473 shares in the last quarter. Federated Hermes Inc. boosted its holdings in AMC Networks by 6.8% during the 4th quarter. Federated Hermes Inc. now owns 26,452 shares of the company’s stock valued at $252,000 after acquiring an additional 1,680 shares during the period. Man Group plc boosted its holdings in AMC Networks by 6.7% during the 2nd quarter. Man Group plc now owns 27,669 shares of the company’s stock valued at $173,000 after acquiring an additional 1,735 shares during the period. Finally, First Trust Advisors LP grew its position in AMC Networks by 18.2% in the 3rd quarter. First Trust Advisors LP now owns 11,963 shares of the company’s stock valued at $99,000 after acquiring an additional 1,840 shares in the last quarter. 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.