AMC Networks Inc. (NASDAQ:AMCX) Receives $6.50 Consensus Target Price from Analysts

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been given an average rating of “Strong Sell” by the seven analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.50.

Several research analysts have recently issued reports on AMCX shares. Seaport Res Ptn cut shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Weiss Ratings restated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, October 8th. Zacks Research cut AMC Networks from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 4th. Morgan Stanley boosted their target price on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Thursday, December 18th. Finally, Wells Fargo & Company upgraded AMC Networks from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $5.00 to $8.00 in a research note on Monday, November 10th.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $9.73 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 2.12 and a current ratio of 2.12. AMC Networks has a fifty-two week low of $5.41 and a fifty-two week high of $10.60. The firm has a market capitalization of $423.55 million, a PE ratio of -2.59 and a beta of 1.06. The stock’s 50-day simple moving average is $8.66 and its 200-day simple moving average is $7.55.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.13). AMC Networks had a negative net margin of 6.03% and a positive return on equity of 11.67%. The business had revenue of $561.74 million during the quarter, compared to analyst estimates of $549.27 million. During the same period last year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that AMC Networks will post 2.62 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

A number of institutional investors have recently modified their holdings of the business. Graham Capital Management L.P. raised its stake in shares of AMC Networks by 422.0% during the first quarter. Graham Capital Management L.P. now owns 136,955 shares of the company’s stock worth $942,000 after purchasing an additional 110,719 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in AMC Networks by 17.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 683,395 shares of the company’s stock valued at $4,702,000 after buying an additional 100,158 shares during the period. Acadian Asset Management LLC raised its position in AMC Networks by 9.9% during the 2nd quarter. Acadian Asset Management LLC now owns 365,819 shares of the company’s stock worth $2,292,000 after buying an additional 32,825 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of AMC Networks by 49.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 592,688 shares of the company’s stock worth $3,639,000 after acquiring an additional 195,978 shares during the period. Finally, Allianz Asset Management GmbH purchased a new stake in shares of AMC Networks in the second quarter valued at about $356,000. 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.