AMC Networks (NASDAQ:AMCX) Stock Rating Lowered by Zacks Research

AMC Networks (NASDAQ:AMCX) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

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

AMC Networks Stock Performance

NASDAQ AMCX opened at $12.17 on Thursday. The firm’s fifty day moving average price is $11.38 and its two-hundred day moving average price is $9.49. The stock has a market cap of $502.01 million, a PE ratio of -14.84 and a beta of 1.35. AMC Networks has a fifty-two week low of $6.47 and a fifty-two week high of $12.93. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76.

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). AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm had revenue of $547.50 million during the quarter, compared to the consensus estimate of $555.74 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The firm’s revenue was down 8.8% on a year-over-year basis. On average, equities analysts expect that AMC Networks will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMCX. Charles Schwab Investment Management Inc. increased its stake in shares of AMC Networks by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock valued at $21,366,000 after buying an additional 462,457 shares during the period. Vanguard Group Inc. lifted its stake in shares of AMC Networks by 6.5% in the third quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock worth $17,881,000 after acquiring an additional 132,013 shares during the period. Marshall Wace LLP boosted its holdings in AMC Networks by 3.2% in the third quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock valued at $12,069,000 after acquiring an additional 45,093 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in AMC Networks by 35.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock valued at $9,423,000 after acquiring an additional 349,373 shares during the last quarter. Finally, UBS Group AG increased its position in AMC Networks by 13.2% during the 3rd quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock valued at $9,645,000 after purchasing an additional 136,771 shares during the period. 78.51% of the stock is owned by institutional investors and hedge funds.

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.