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

Zacks Research cut shares of AMC Networks (NASDAQ:AMCX) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on AMCX. Wells Fargo & Company restated an “underweight” rating on shares of AMC Networks in a research note on Sunday, August 10th. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Sell” and an average price target of $5.38.

AMC Networks Stock Down 2.8%

AMCX stock opened at $7.25 on Wednesday. The business’s 50-day moving average price is $7.74 and its 200-day moving average price is $6.85. The stock has a market cap of $314.53 million, a P/E ratio of -1.66 and a beta of 1.43. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 2.11. AMC Networks has a twelve month low of $5.41 and a twelve month high of $10.60.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, August 8th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.15. The company had revenue of $600.02 million for the quarter, compared to analysts’ expectations of $582.99 million. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 EPS. On average, equities research analysts forecast that AMC Networks will post 2.62 EPS for the current year.

Institutional Investors Weigh In On AMC Networks

Several large investors have recently bought and sold shares of AMCX. Raymond James Financial Inc. bought a new stake in shares of AMC Networks in the 2nd quarter valued at approximately $25,000. Nisa Investment Advisors LLC purchased a new position in shares of AMC Networks during the second quarter valued at approximately $26,000. Quantbot Technologies LP purchased a new stake in shares of AMC Networks in the first quarter worth approximately $31,000. Northwestern Mutual Wealth Management Co. grew its position in AMC Networks by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after acquiring an additional 2,735 shares during the last quarter. Finally, CWM LLC increased its holdings in AMC Networks by 50.4% during the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock worth $36,000 after purchasing an additional 1,909 shares during the period. Institutional investors own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.