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

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been assigned a consensus recommendation of “Strong Sell” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $6.50.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of AMC Networks from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $5.00 to $8.00 in a research report on Monday, November 10th. Seaport Research Partners lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a research note on Wednesday, January 21st. Zacks Research raised AMC Networks from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley increased their price target on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, December 18th.

AMC Networks Stock Down 1.1%

AMCX opened at $7.86 on Tuesday. The stock’s 50 day moving average price is $8.99 and its 200 day moving average price is $7.88. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.12 and a quick ratio of 2.12. The stock has a market cap of $342.15 million, a P/E ratio of -2.10 and a beta of 1.04. AMC Networks has a 12 month low of $5.41 and a 12 month high of $10.60.

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). The business had revenue of $561.74 million for the quarter, compared to analyst estimates of $549.27 million. AMC Networks had a positive return on equity of 11.67% and a negative net margin of 6.03%.The company’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. As a group, research analysts predict that AMC Networks will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMCX. RWWM Inc. raised its position in AMC Networks by 22.7% in the second quarter. RWWM Inc. now owns 3,330,026 shares of the company’s stock worth $20,879,000 after acquiring an additional 617,105 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AMC Networks by 6.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock worth $17,881,000 after purchasing an additional 132,013 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of AMC Networks by 3.2% in the 3rd quarter. Marshall Wace LLP now owns 1,464,638 shares of the company’s stock worth $12,069,000 after purchasing an additional 45,093 shares in the last quarter. UBS Group AG raised its holdings in shares of AMC Networks by 13.2% in the 3rd quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after purchasing an additional 136,771 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in AMC Networks by 25.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 996,769 shares of the company’s stock valued at $9,220,000 after purchasing an additional 204,895 shares during the last quarter. Institutional investors own 78.51% of the company’s stock.

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.