AMC Networks (NASDAQ:AMCX) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of AMC Networks (NASDAQ:AMCX) from a strong-buy rating to a hold rating in a research report report published on Thursday,Zacks reports.

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

AMC Networks Price Performance

Shares of AMCX opened at $12.17 on Thursday. 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 company’s fifty day simple moving average is $11.38 and its 200 day simple moving average is $9.49. AMC Networks has a 1-year low of $6.47 and a 1-year high of $12.93. The company has a market cap of $502.01 million, a price-to-earnings ratio of -14.84 and a beta of 1.35.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). The firm had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The business’s revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. On average, research analysts forecast that AMC Networks will post 2.42 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

Several hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new position in AMC Networks in the 2nd quarter valued at $33,000. California State Teachers Retirement System lifted its holdings in shares of AMC Networks by 158.3% during the second quarter. California State Teachers Retirement System now owns 4,311 shares of the company’s stock worth $432,000 after buying an additional 2,642 shares in the last quarter. Lone Peak Global Investors LLC boosted its position in shares of AMC Networks by 1.9% in the second quarter. Lone Peak Global Investors LLC now owns 44,829 shares of the company’s stock valued at $447,000 after acquiring an additional 833 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of AMC Networks in the first quarter valued at about $1,060,000. Finally, Quantinno Capital Management LP grew its stake in shares of AMC Networks by 8.4% in the first quarter. Quantinno Capital Management LP now owns 55,822 shares of the company’s stock valued at $379,000 after acquiring an additional 4,325 shares in the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Company Profile

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.