AMC Networks Inc. (NASDAQ:AMCX) Receives Average Rating of “Reduce” from Analysts

AMC Networks Inc. (NASDAQ:AMCX) has been assigned a consensus rating of “Reduce” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $11.00.

AMCX has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $8.53 on Wednesday. The company has a market cap of $371.58 million, a P/E ratio of 2.39 and a beta of 1.29. AMC Networks has a 52-week low of $7.08 and a 52-week high of $20.97. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.13 and a current ratio of 2.13. The firm’s fifty day moving average is $9.54 and its two-hundred day moving average is $11.48.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.28). The firm had revenue of $625.90 million for the quarter, compared to analysts’ expectations of $601.41 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, analysts anticipate that AMC Networks will post 4.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in AMC Networks during the 2nd quarter worth $4,456,000. RWWM Inc. grew its holdings in AMC Networks by 193.7% during the 4th quarter. RWWM Inc. now owns 515,432 shares of the company’s stock worth $9,682,000 after acquiring an additional 339,912 shares in the last quarter. Dimensional Fund Advisors LP increased its position in AMC Networks by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after purchasing an additional 250,738 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of AMC Networks by 234.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock valued at $2,693,000 after purchasing an additional 195,444 shares in the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in shares of AMC Networks during the second quarter valued at approximately $1,569,000. 78.51% of the stock is currently owned by institutional investors.

AMC Networks Company Profile

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.