AMC Networks Inc. (NASDAQ:AMCX) Receives Average Recommendation of “Reduce” from Analysts

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus recommendation of “Reduce” from the five brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.3333.

A number of research firms have recently weighed in on AMCX. Weiss Ratings cut AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wells Fargo & Company boosted their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. UBS Group upped their target price on shares of AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research report on Wednesday, August 12th. Zacks Research raised shares of AMC Networks from a “strong sell” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley lifted their price target on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, July 31st.

AMC Networks Trading Down 2.4%

AMCX opened at $12.48 on Friday. The stock has a market capitalization of $514.80 million, a PE ratio of -15.22 and a beta of 1.35. AMC Networks has a one year low of $6.47 and a one year high of $12.93. 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 business’s 50 day moving average price is $11.19 and its 200 day moving average price is $9.36.

AMC Networks (NASDAQ:AMCX) last posted its earnings results 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). AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The business had revenue of $547.50 million for the quarter, compared to analyst estimates of $555.74 million. During the same period last year, the business earned $0.69 EPS. AMC Networks’s revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts expect that AMC Networks will post 2.77 EPS for the current year.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in AMC Networks during the second quarter worth $25,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after buying an additional 2,735 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of AMC Networks in the 3rd quarter valued at $43,000. State of Wyoming acquired a new position in AMC Networks during the 2nd quarter worth about $51,000. Finally, Kestra Advisory Services LLC acquired a new position in AMC Networks during the 4th quarter worth about $63,000. Hedge funds and other 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.