AMC Networks Inc. (AMCX) Stock Rating Upgraded by Zacks Investment Research
AMC Networks Inc. (NASDAQ:AMCX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $63.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.05% from the company’s current price.
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 equities research analysts have also recently issued reports on the stock. Deutsche Bank AG dropped their target price on shares of AMC Networks from $65.00 to $61.00 and set a “hold” rating for the company in a research report on Monday, May 8th. Guggenheim reiterated a “buy” rating and set a $70.00 target price on shares of AMC Networks in a research report on Tuesday, March 28th. BidaskClub upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Piper Jaffray Companies cut shares of AMC Networks from an “overweight” rating to a “neutral” rating in a research report on Monday, April 10th. Finally, ValuEngine cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. AMC Networks presently has a consensus rating of “Hold” and an average target price of $61.79.
AMC Networks (NASDAQ:AMCX) opened at 56.73 on Thursday. The firm has a 50-day moving average of $54.01 and a 200 day moving average of $56.17. AMC Networks has a 52-week low of $46.17 and a 52-week high of $67.61. The company has a market cap of $3.78 billion, a PE ratio of 13.78 and a beta of 1.03.
AMC Networks (NASDAQ:AMCX) last announced its earnings results on Thursday, May 4th. The company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.10. The business had revenue of $720.19 million during the quarter, compared to analysts’ expectations of $720.15 million. AMC Networks had a net margin of 10.59% and a return on equity of 502.40%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $2.09 EPS. Equities research analysts expect that AMC Networks will post $6.39 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in AMC Networks during the first quarter valued at $194,000. World Asset Management Inc purchased a new position in AMC Networks during the first quarter valued at $232,000. Wrapmanager Inc. purchased a new position in AMC Networks during the first quarter valued at $233,000. Greenwood Capital Associates LLC raised its position in AMC Networks by 4.4% in the first quarter. Greenwood Capital Associates LLC now owns 3,987 shares of the company’s stock valued at $234,000 after buying an additional 167 shares during the last quarter. Finally, Teza Capital Management LLC purchased a new position in AMC Networks during the first quarter valued at $243,000. 82.10% of the stock is currently owned by institutional investors and hedge funds.
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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