Zacks Investment Research Lowers AMC Networks Inc. (AMCX) to Sell
AMC Networks Inc. (NASDAQ:AMCX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday.
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 issued reports on the stock. FBR & Co assumed coverage on shares of AMC Networks in a research report on Thursday. They issued an “outperform” rating on the stock. FBN Securities restated an “outperform” rating on shares of AMC Networks in a research report on Thursday. Albert Fried & Company restated a “buy” rating and issued a $76.00 price target on shares of AMC Networks in a research report on Sunday, September 25th. Nomura decreased their price target on shares of AMC Networks from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, September 22nd. Finally, Credit Agricole SA set a $89.00 price target on shares of AMC Networks and gave the stock a “buy” rating in a research report on Saturday, September 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. AMC Networks presently has an average rating of “Buy” and an average price target of $73.53.
Shares of AMC Networks (NASDAQ:AMCX) traded down 0.10% on Monday, hitting $51.47. The company had a trading volume of 324,042 shares. The company has a 50 day moving average of $52.64 and a 200-day moving average of $59.06. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 10.72 and a beta of 0.84. AMC Networks has a 12-month low of $49.93 and a 12-month high of $83.78.
AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.28. The firm had revenue of $685 million for the quarter, compared to analyst estimates of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, analysts forecast that AMC Networks will post $5.56 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. I.G. Investment Management LTD. raised its position in AMC Networks by 261.8% in the second quarter. I.G. Investment Management LTD. now owns 1,780 shares of the company’s stock worth $108,000 after buying an additional 1,288 shares in the last quarter. Advisor Group Inc. purchased a new position in AMC Networks during the second quarter worth $120,000. Acrospire Investment Management LLC raised its position in AMC Networks by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 3,200 shares of the company’s stock worth $193,000 after buying an additional 2,400 shares in the last quarter. Wrapmanager Inc. raised its position in AMC Networks by 4.7% in the second quarter. Wrapmanager Inc. now owns 3,711 shares of the company’s stock worth $224,000 after buying an additional 168 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in AMC Networks by 66.4% in the second quarter. LS Investment Advisors LLC now owns 3,763 shares of the company’s stock worth $227,000 after buying an additional 1,501 shares in the last quarter. 83.72% of the stock is owned by hedge funds and other institutional investors.
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. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.
Receive News & Stock Ratings for AMC Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Networks Inc. and related stocks with our FREE daily email newsletter.