AMC Networks Inc. (NASDAQ:AMCX) Receives $6.50 Average Target Price from Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received an average recommendation of “Strong Sell” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $6.50.

A number of analysts recently weighed in on AMCX shares. Seaport Res Ptn lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Zacks Research lowered shares of AMC Networks from a “hold” rating to a “strong sell” rating in a report on Thursday, December 4th. Morgan Stanley upped their price target on shares of AMC Networks from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded AMC Networks from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $5.00 to $8.00 in a report on Monday, November 10th.

AMC Networks Stock Performance

Shares of NASDAQ:AMCX opened at $9.80 on Friday. The firm’s 50 day simple moving average is $8.56 and its 200-day simple moving average is $7.51. 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 one year low of $5.41 and a one year high of $10.60. The firm has a market cap of $426.59 million, a PE ratio of -2.61 and a beta of 1.06.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). AMC Networks had a negative net margin of 6.03% and a positive return on equity of 11.67%. The firm had revenue of $561.74 million during the quarter, compared to analysts’ expectations of $549.27 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts predict that AMC Networks will post 2.62 EPS for the current year.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors have recently added to or reduced their stakes in AMCX. Raymond James Financial Inc. purchased a new position in AMC Networks in the second quarter valued at about $25,000. Nisa Investment Advisors LLC bought a new stake in shares of AMC Networks in the 2nd quarter valued at about $26,000. Quantbot Technologies LP bought a new stake in shares of AMC Networks in the 1st quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. grew its position in shares of AMC Networks by 133.3% in the 2nd 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 during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of AMC Networks during the 3rd quarter worth approximately $43,000. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

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.