AMC Networks Inc. (NASDAQ:AMCX) Receives $10.33 Average Price Target from Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has been assigned an average recommendation of “Reduce” from the five research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.3333.

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

AMC Networks Price Performance

Shares of NASDAQ:AMCX opened at $11.94 on Wednesday. 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 fifty day moving average price is $10.46 and its two-hundred day moving average price is $8.93. The stock has a market cap of $492.52 million, a PE ratio of -14.56 and a beta of 1.33. AMC Networks has a one year low of $6.47 and a one year high of $12.52.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. During the same period last year, the firm earned $0.69 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. On average, analysts forecast that AMC Networks will post 2.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Empowered Funds LLC grew its position in shares of AMC Networks by 8.5% in the first quarter. Empowered Funds LLC now owns 200,273 shares of the company’s stock valued at $1,378,000 after purchasing an additional 15,738 shares during the period. Geode Capital Management LLC increased its stake in AMC Networks by 4.0% in the second quarter. Geode Capital Management LLC now owns 933,023 shares of the company’s stock valued at $5,851,000 after purchasing an additional 36,203 shares during the last quarter. Cetera Investment Advisers purchased a new position in AMC Networks during the second quarter worth about $63,000. Rhumbline Advisers lifted its position in AMC Networks by 19.4% during the second quarter. Rhumbline Advisers now owns 71,874 shares of the company’s stock worth $451,000 after buying an additional 11,685 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in AMC Networks by 28,786.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 28,598 shares of the company’s stock worth $179,000 after buying an additional 28,499 shares during the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.