AMC Networks (NASDAQ:AMCX) Rating Increased to Equal Weight at Wells Fargo & Company

AMC Networks (NASDAQ:AMCX) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat reports. The firm currently has a $8.00 price target on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.38% from the stock’s current price.

A number of other equities analysts have also weighed in on AMCX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, October 8th. Zacks Research downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Strong Sell” and a consensus target price of $6.38.

AMC Networks Stock Up 3.7%

Shares of AMCX opened at $7.52 on Monday. The business’s 50 day moving average is $7.75 and its 200 day moving average is $6.87. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 2.11. AMC Networks has a 12-month low of $5.41 and a 12-month high of $10.60. The company has a market capitalization of $326.25 million, a PE ratio of -1.72 and a beta of 1.43.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.13). The business had revenue of $561.74 million during the quarter, compared to the consensus estimate of $549.27 million. AMC Networks had a positive return on equity of 15.73% and a negative net margin of 7.42%.The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. AMC Networks has set its FY 2025 guidance at EPS. Research analysts expect that AMC Networks will post 2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Several institutional investors have recently bought and sold shares of AMCX. Concurrent Investment Advisors LLC lifted its holdings in shares of AMC Networks by 115.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 23,057 shares of the company’s stock valued at $159,000 after acquiring an additional 12,365 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in AMC Networks by 570.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 90,911 shares of the company’s stock worth $625,000 after acquiring an additional 77,350 shares during the last quarter. Graham Capital Management L.P. raised its position in AMC Networks by 422.0% during the first quarter. Graham Capital Management L.P. now owns 136,955 shares of the company’s stock valued at $942,000 after purchasing an additional 110,719 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of AMC Networks by 17.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 683,395 shares of the company’s stock valued at $4,702,000 after purchasing an additional 100,158 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of AMC Networks by 941.3% in the 1st quarter. Acadian Asset Management LLC now owns 332,994 shares of the company’s stock worth $2,290,000 after purchasing an additional 301,016 shares during the period. Institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

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.