AMC Networks (NASDAQ:AMCX) Raised to “Strong-Buy” at Zacks Research

AMC Networks (NASDAQ:AMCX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on AMCX. Wells Fargo & Company boosted their price objective on AMC Networks from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of AMC Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley increased their target price on shares of AMC Networks from $7.00 to $10.00 and gave the company an “underweight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, AMC Networks has an average rating of “Hold” and an average target price of $10.50.

AMC Networks Price Performance

AMCX opened at $12.03 on Tuesday. AMC Networks has a twelve month low of $5.68 and a twelve month high of $12.44. The company has a fifty day simple moving average of $10.09 and a 200 day simple moving average of $8.67. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.76. The firm has a market cap of $528.48 million, a price-to-earnings ratio of -14.67 and a beta of 1.33.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The firm had revenue of $547.50 million during 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 quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts expect that AMC Networks will post 2.52 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of AMC Networks by 35.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after acquiring an additional 349,373 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of AMC Networks during the 1st quarter valued at about $1,060,000. Ritholtz Wealth Management acquired a new position in AMC Networks in the first quarter worth approximately $301,000. WINTON GROUP Ltd raised its position in AMC Networks by 213.0% during the fourth quarter. WINTON GROUP Ltd now owns 56,925 shares of the company’s stock valued at $542,000 after acquiring an additional 38,739 shares in the last quarter. Finally, Verus Capital Partners LLC grew its position in AMC Networks by 7.4% in the fourth quarter. Verus Capital Partners LLC now owns 80,300 shares of the company’s stock worth $764,000 after acquiring an additional 5,500 shares in the last quarter. Institutional investors and hedge funds 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.