AMC Networks (NASDAQ:AMCX) Lowered to Strong Sell Rating by Zacks Research

Zacks Research cut shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Several other research analysts have also issued reports on the company. Weiss Ratings upgraded AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, July 2nd. Morgan Stanley set a $7.00 target price on shares of AMC Networks in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $8.50.

AMC Networks Stock Performance

AMCX stock opened at $9.79 on Thursday. AMC Networks has a 1-year low of $5.41 and a 1-year high of $11.13. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.75. The business’s 50 day moving average is $9.82 and its 200-day moving average is $8.56. The firm has a market cap of $430.07 million, a P/E ratio of 16.32 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.14). The company had revenue of $542.13 million for the quarter, compared to the consensus estimate of $540.67 million. AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.AMC Networks’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Equities analysts anticipate that AMC Networks will post 1.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in AMC Networks during the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. boosted its stake in AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock worth $30,000 after purchasing an additional 2,735 shares in the last quarter. Advisory Services Network LLC acquired a new position in AMC Networks in the third quarter worth $43,000. State of Wyoming bought a new stake in shares of AMC Networks during the second quarter worth $51,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of AMC Networks during the fourth quarter worth $63,000. 78.51% of the stock is currently owned by institutional investors.

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.