Amc Networks (NASDAQ:AMCX) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Amc Networks (NASDAQ:AMCX) from a strong-buy rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “

A number of other research firms also recently weighed in on AMCX. Imperial Capital downgraded Amc Networks from an in-line rating to an underperform rating and cut their price target for the stock from $53.00 to $41.00 in a research note on Tuesday, October 29th. BidaskClub downgraded Amc Networks from a sell rating to a strong sell rating in a research note on Thursday, October 17th. Bank of America downgraded Amc Networks from a buy rating to a neutral rating and set a $44.96 price target for the company. in a research note on Wednesday, October 30th. Wolfe Research raised Amc Networks from an underperform rating to a peer perform rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Co assumed coverage on Amc Networks in a research note on Monday, September 23rd. They set a market perform rating and a $58.00 price target for the company. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $49.71.

Shares of AMCX traded down $0.09 during midday trading on Monday, reaching $41.41. 640,700 shares of the stock were exchanged, compared to its average volume of 572,472. Amc Networks has a 12-month low of $39.53 and a 12-month high of $68.42. The firm has a 50 day simple moving average of $46.70 and a 200-day simple moving average of $51.96. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 5.00. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 4.77, a P/E/G ratio of 0.49 and a beta of 0.82.

Amc Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.65. Amc Networks had a return on equity of 106.13% and a net margin of 15.12%. The company had revenue of $718.60 million during the quarter, compared to the consensus estimate of $734.61 million. During the same period last year, the business earned $2.15 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts expect that Amc Networks will post 9.01 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Amc Networks by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,058,250 shares of the company’s stock valued at $221,134,000 after acquiring an additional 15,224 shares during the last quarter. LSV Asset Management increased its holdings in shares of Amc Networks by 2.1% during the 2nd quarter. LSV Asset Management now owns 2,771,265 shares of the company’s stock valued at $151,006,000 after acquiring an additional 57,000 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Amc Networks by 57.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,557,614 shares of the company’s stock valued at $138,674,000 after acquiring an additional 934,831 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Amc Networks by 57.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 675,151 shares of the company’s stock valued at $36,789,000 after acquiring an additional 246,275 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Amc Networks by 5.8% during the 1st quarter. FMR LLC now owns 414,800 shares of the company’s stock valued at $23,544,000 after acquiring an additional 22,683 shares during the last quarter. 85.69% of the stock is currently owned by institutional investors and hedge funds.

Amc Networks Company Profile

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

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