AMC Networks (NASDAQ:AMCX) Upgraded at Zacks Research

Zacks Research upgraded shares of AMC Networks (NASDAQ:AMCX) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of AMC Networks from a “strong-buy” rating to a “hold” rating in a report on Sunday, December 14th. Wells Fargo & Company upgraded shares of AMC Networks from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $5.00 to $8.00 in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of AMC Networks in a report on Wednesday, October 8th. Finally, Morgan Stanley boosted their target price on AMC Networks from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Thursday, December 18th. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, AMC Networks presently has a consensus rating of “Strong Sell” and a consensus price target of $6.50.

AMC Networks Stock Performance

Shares of NASDAQ AMCX opened at $8.78 on Tuesday. The stock has a market cap of $382.19 million, a price-to-earnings ratio of -2.34 and a beta of 1.04. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 1.76. AMC Networks has a 1-year low of $5.41 and a 1-year high of $10.60. The stock’s 50-day moving average is $8.88 and its 200 day moving average is $7.68.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, November 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.13). AMC Networks had a positive return on equity of 11.67% and a negative net margin of 6.03%.The firm had revenue of $561.74 million during the quarter, compared to analysts’ expectations of $549.27 million. During the same period in the prior year, the company earned $0.91 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that AMC Networks will post 2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMCX. Wealth Enhancement Advisory Services LLC purchased a new stake in AMC Networks in the 4th quarter worth approximately $92,000. Advisory Services Network LLC bought a new position in shares of AMC Networks during the third quarter valued at approximately $43,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of AMC Networks by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 351,198 shares of the company’s stock valued at $2,894,000 after acquiring an additional 6,417 shares in the last quarter. Verition Fund Management LLC purchased a new stake in AMC Networks in the third quarter worth $90,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in AMC Networks by 12.5% in the third quarter. Public Employees Retirement System of Ohio now owns 33,748 shares of the company’s stock valued at $278,000 after acquiring an additional 3,752 shares in the last quarter. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Company Profile

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.