AMC Networks (NASDAQ:AMCX) Stock Rating Upgraded by Wells Fargo & Company

AMC Networks (NASDAQ:AMCX) was upgraded by equities researchers at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The firm currently has a $8.00 price objective on the stock, up from their previous price objective of $5.00. Wells Fargo & Company‘s price objective suggests a potential upside of 2.56% from the stock’s previous close.

A number of other equities analysts also recently commented on AMCX. Zacks Research downgraded shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus target price of $6.38.

AMC Networks Stock Performance

NASDAQ AMCX opened at $7.80 on Monday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.07 and a quick ratio of 2.07. AMC Networks has a 1-year low of $5.41 and a 1-year high of $10.60. The firm has a market capitalization of $338.40 million, a P/E ratio of -1.78 and a beta of 1.43. The business’s 50-day simple moving average is $7.78 and its 200-day simple moving average is $6.89.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, November 7th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.13). The business had revenue of $561.74 million during the quarter, compared to analysts’ expectations of $549.27 million. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. AMC Networks has set its FY 2025 guidance at EPS. Equities analysts predict that AMC Networks will post 2.62 EPS for the current year.

Institutional Investors Weigh In On AMC Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Raymond James Financial Inc. purchased a new position in AMC Networks in the 2nd quarter valued at about $25,000. Nisa Investment Advisors LLC acquired a new position in shares of AMC Networks in the second quarter worth about $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company’s stock valued at $30,000 after purchasing an additional 2,735 shares during the last quarter. Quantbot Technologies LP purchased a new position in AMC Networks in the first quarter valued at about $31,000. Finally, CWM LLC grew its stake in AMC Networks by 50.4% during the 2nd quarter. CWM LLC now owns 5,695 shares of the company’s stock valued at $36,000 after purchasing an additional 1,909 shares in the last quarter. Hedge funds and other 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.