AMC Networks Inc. (NASDAQ:AMCX) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus rating of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.38.

A number of research analysts have recently issued reports on AMCX shares. Wells Fargo & Company dropped their target price on AMC Networks from $8.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on AMC Networks from $8.00 to $6.00 and set an “underweight” rating on the stock in a report on Monday, May 12th. Wall Street Zen raised AMC Networks from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th. UBS Group dropped their price objective on AMC Networks from $8.00 to $6.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on AMC Networks from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Monday, May 12th.

AMC Networks Trading Down 4.1%

NASDAQ:AMCX opened at $6.24 on Monday. The firm has a market cap of $280.34 million, a P/E ratio of -1.19 and a beta of 1.38. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63. The stock’s 50 day simple moving average is $6.33 and its 200-day simple moving average is $7.77. AMC Networks has a 12-month low of $5.41 and a 12-month high of $13.50.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.21). The company had revenue of $555.23 million during the quarter, compared to analyst estimates of $567.23 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. Equities analysts anticipate that AMC Networks will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in AMC Networks during the fourth quarter worth $779,000. Principal Financial Group Inc. boosted its position in AMC Networks by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 23,102 shares of the company’s stock worth $229,000 after purchasing an additional 2,043 shares in the last quarter. Ieq Capital LLC purchased a new stake in AMC Networks during the fourth quarter worth $414,000. Arrowstreet Capital Limited Partnership purchased a new stake in AMC Networks during the fourth quarter worth $631,000. Finally, Contrarius Group Holdings Ltd purchased a new stake in AMC Networks during the fourth quarter worth $5,359,000. Institutional investors and hedge funds 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.