AMC Networks Inc. (NASDAQ:AMCX) Given Consensus Rating of “Reduce” by Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received an average rating of “Reduce” from the four ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of research firms recently commented on AMCX. Wells Fargo & Company dropped their price target on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 12th.

AMC Networks Stock Performance

AMCX opened at $8.69 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 2.13 and a quick ratio of 2.13. The business has a fifty day simple moving average of $9.98 and a 200 day simple moving average of $11.84. AMC Networks has a 1 year low of $7.51 and a 1 year high of $20.97. The company has a market capitalization of $383.23 million, a PE ratio of 2.43 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, August 9th. The company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.28). AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The business had revenue of $625.90 million for the quarter, compared to the consensus estimate of $601.41 million. During the same period in the prior year, the business posted $2.02 earnings per share. AMC Networks’s revenue was down 7.8% compared to the same quarter last year. Research analysts expect that AMC Networks will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP raised its stake in AMC Networks by 119.2% during the second quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after acquiring an additional 2,336 shares in the last quarter. Innealta Capital LLC acquired a new position in AMC Networks during the 2nd quarter worth approximately $48,000. EntryPoint Capital LLC bought a new position in AMC Networks in the 1st quarter valued at approximately $60,000. EMC Capital Management boosted its position in AMC Networks by 23.8% in the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock valued at $95,000 after buying an additional 1,500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of AMC Networks by 75.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,986 shares of the company’s stock worth $106,000 after buying an additional 4,735 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

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