Zacks Investment Research Lowers AMC Networks (AMCX) to Hold
Zacks Investment Research cut shares of AMC Networks (NASDAQ:AMCX) from a buy rating to a hold rating in a research report released on Tuesday.
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. “
Several other research analysts have also weighed in on AMCX. Jefferies Group reissued a hold rating and set a $65.00 price objective on shares of AMC Networks in a research note on Tuesday, September 12th. Sanford C. Bernstein reissued a market perform rating on shares of AMC Networks in a research note on Tuesday, September 12th. Cowen reissued a hold rating and set a $53.00 price objective on shares of AMC Networks in a research note on Thursday, September 21st. Wells Fargo & Co started coverage on shares of AMC Networks in a research note on Tuesday, October 10th. They set an outperform rating and a $72.00 price objective on the stock. Finally, Guggenheim lowered shares of AMC Networks from a buy rating to a neutral rating in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. AMC Networks presently has an average rating of Hold and a consensus target price of $61.42.
AMC Networks (AMCX) opened at $53.30 on Tuesday. AMC Networks has a one year low of $46.89 and a one year high of $67.61. The firm has a market cap of $3,277.50, a P/E ratio of 7.61, a P/E/G ratio of 1.00 and a beta of 1.10. The company has a debt-to-equity ratio of 37.53, a quick ratio of 2.57 and a current ratio of 2.57.
AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.53. AMC Networks had a net margin of 12.12% and a return on equity of 948.45%. The business had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. During the same quarter last year, the firm earned $1.11 EPS. AMC Networks’s quarterly revenue was up 2.1% compared to the same quarter last year. analysts forecast that AMC Networks will post 7.01 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. AXA lifted its stake in AMC Networks by 468.7% in the third quarter. AXA now owns 245,100 shares of the company’s stock valued at $14,331,000 after buying an additional 202,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in AMC Networks by 24.2% in the third quarter. Public Employees Retirement System of Ohio now owns 54,061 shares of the company’s stock valued at $3,161,000 after buying an additional 10,539 shares in the last quarter. Dean Investment Associates LLC lifted its stake in AMC Networks by 4.3% in the third quarter. Dean Investment Associates LLC now owns 109,710 shares of the company’s stock valued at $6,415,000 after buying an additional 4,515 shares in the last quarter. RWC Asset Management LLP lifted its stake in AMC Networks by 31.3% in the third quarter. RWC Asset Management LLP now owns 54,224 shares of the company’s stock valued at $3,170,000 after buying an additional 12,913 shares in the last quarter. Finally, Sterling Capital Management LLC bought a new position in AMC Networks in the third quarter valued at approximately $2,431,000. 86.83% of the stock is currently owned by hedge funds and other institutional investors.
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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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