AMC Networks (AMCX) Downgraded to “Strong Sell” at BidaskClub
BidaskClub cut shares of AMC Networks (NASDAQ:AMCX) from a sell rating to a strong sell rating in a research report released on Thursday morning.
A number of other research firms have also weighed in on AMCX. Cowen reiterated a hold rating and issued a $53.00 price objective on shares of AMC Networks in a research note on Thursday, September 21st. Wells Fargo & Co began coverage on shares of AMC Networks in a research note on Tuesday, October 10th. They issued an outperform rating and a $72.00 price objective on the stock. Guggenheim lowered shares of AMC Networks from a buy rating to a neutral rating in a research note on Thursday, October 12th. TheStreet raised shares of AMC Networks from a c rating to a b- rating in a report on Thursday, December 21st. Finally, Sanford C. Bernstein reissued a market perform rating on shares of AMC Networks in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. AMC Networks presently has a consensus rating of Hold and a consensus price target of $61.42.
AMC Networks (NASDAQ:AMCX) traded down $0.13 during trading hours on Thursday, hitting $51.57. 741,800 shares of the stock were exchanged, compared to its average volume of 876,933. The firm has a market capitalization of $3,240.00, a price-to-earnings ratio of 10.17, a P/E/G ratio of 0.97 and a beta of 1.10. AMC Networks has a 1 year low of $46.89 and a 1 year high of $67.61. The company has a debt-to-equity ratio of 37.53, a current ratio of 2.57 and a quick ratio of 2.57.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.53. The firm had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. AMC Networks had a net margin of 12.12% and a return on equity of 948.45%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 earnings per share. equities research analysts forecast that AMC Networks will post 7.01 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AXA boosted its holdings in AMC Networks by 468.7% during the third quarter. AXA now owns 245,100 shares of the company’s stock worth $14,331,000 after buying an additional 202,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in AMC Networks by 24.2% during the third quarter. Public Employees Retirement System of Ohio now owns 54,061 shares of the company’s stock valued at $3,161,000 after purchasing an additional 10,539 shares in the last quarter. Dean Investment Associates LLC lifted its holdings in AMC Networks by 4.3% during the third quarter. Dean Investment Associates LLC now owns 109,710 shares of the company’s stock valued at $6,415,000 after purchasing an additional 4,515 shares in the last quarter. RWC Asset Management LLP lifted its holdings in AMC Networks by 31.3% during the third quarter. RWC Asset Management LLP now owns 54,224 shares of the company’s stock valued at $3,170,000 after purchasing an additional 12,913 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new position in AMC Networks during the third quarter valued at $2,431,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.
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AMC Networks Company Profile
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
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