AMC Networks (NASDAQ:AMCX) Rating Lowered to Hold at Zacks Research

AMC Networks (NASDAQ:AMCX) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday, Zacks reports.

Other equities analysts have also issued reports about the company. Weiss Ratings lowered AMC Networks from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. UBS Group increased their target price on AMC Networks from $6.00 to $10.00 and gave the company a “sell” rating in a research report on Wednesday, August 12th. Finally, Morgan Stanley raised their target price on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a report on Friday, July 31st. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, AMC Networks currently has a consensus rating of “Strong Sell” and an average price target of $10.33.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $12.17 on Thursday. 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 company has a market cap of $502.01 million, a P/E ratio of -14.84 and a beta of 1.35. The firm’s fifty day moving average is $11.38 and its two-hundred day moving average is $9.49. AMC Networks has a 52-week low of $6.47 and a 52-week high of $12.93.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period last year, the company earned $0.69 EPS. As a group, analysts anticipate that AMC Networks will post 2.42 EPS for the current fiscal year.

Institutional Trading of AMC Networks

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of AMC Networks by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock worth $21,366,000 after purchasing an additional 462,457 shares during the last quarter. Marshall Wace LLP grew its position in shares of AMC Networks by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 1,419,545 shares of the company’s stock worth $8,901,000 after buying an additional 399,478 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in AMC Networks by 35.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after buying an additional 349,373 shares during the last quarter. Millennium Management LLC increased its stake in AMC Networks by 1,309.4% during the 4th quarter. Millennium Management LLC now owns 346,923 shares of the company’s stock valued at $3,303,000 after purchasing an additional 322,308 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in AMC Networks by 902.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 286,603 shares of the company’s stock valued at $2,362,000 after purchasing an additional 258,005 shares during the last quarter. 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.