AMC Networks Inc. (NASDAQ:AMCX) Receives Average Recommendation of “Hold” from Brokerages


AMC Networks Inc. (NASDAQ:AMCX – Get Rating) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $37.50.

AMCX has been the topic of a number of research reports. Guggenheim cut their target price on shares of AMC Networks from $44.00 to $35.00 in a research note on Friday, May 6th. Zacks Investment Research raised shares of AMC Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, February 23rd. Wells Fargo & Company lowered their price target on shares of AMC Networks from $45.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, February 17th. Morgan Stanley lowered their price target on shares of AMC Networks from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, February 17th. Finally, StockNews.com raised shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Wednesday.

In other AMC Networks news, EVP James Gallagher sold 20,000 shares of AMC Networks stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $40.00, for a total value of $800,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.56% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Everence Capital Management Inc. Its stake grew in shares of AMC Networks by 81.7% in the fourth quarter. Everence Capital Management Inc. Now owns 7,960 shares of the company’s stock worth $274,000 shares after acquiring an additional 3,580 during the period. Timelo Investment Management Inc. bought a new stake in shares of AMC Networks in the fourth quarter worth approximately $2,359,000. Marshall Wace LLP bought a new stake in shares of AMC Networks in the third quarter worth approximately $1,927,000. Arizona State Retirement System grew its stake in shares of AMC Networks by 3.5% in the third quarter. Arizona State Retirement System now owns 7,534 shares of the company’s stock worth $351,000 after acquiring an additional 255 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of AMC Networks in the third quarter worth approximately $520,000. 78.02% of the stock is owned by institutional investors and hedge funds.

Shares of AMCX opened at $35.24 on Friday. The firm’s 50-day moving average price is $37.71 and its 200-day moving average price is $39.39. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 5.73 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 2.86. AMC Networks has a 1-year low of $31.10 and a 1-year high of $72.80.

AMC Networks (NASDAQ:AMCX – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $2.54 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.09). The company had revenue of $712.16 million for the quarter, compared to the consensus estimate of $760.80 million. AMC Networks had a net margin of 8.64% and a return on equity of 45.15%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.98 EPS. On average, research analysts forecast that AMC Networks will post 8.42 EPS for the current fiscal year.

About AMC Networks (Get Rating)

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

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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)



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