AMC Networks (NASDAQ:AMCX) Cut to “Strong Sell” at Zacks Research

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

A number of other equities analysts have also recently commented on AMCX. Morgan Stanley set a $7.00 price target on shares of AMC Networks in a research note on Thursday, April 30th. Weiss Ratings raised shares of AMC Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average target price of $8.50.

AMC Networks Stock Performance

Shares of AMCX opened at $9.79 on Thursday. AMC Networks has a 12-month low of $5.41 and a 12-month high of $11.13. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.75. The company has a market cap of $430.07 million, a PE ratio of 16.32 and a beta of 1.31. The stock has a 50-day moving average price of $9.82 and a 200-day moving average price of $8.56.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.14). The company had revenue of $542.13 million during the quarter, compared to the consensus estimate of $540.67 million. AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. As a group, equities analysts forecast that AMC Networks will post 1.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMCX. Charles Schwab Investment Management Inc. boosted its holdings in AMC Networks by 26.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company’s stock valued at $21,366,000 after acquiring an additional 462,457 shares during the period. Marshall Wace LLP increased its stake in AMC Networks by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 1,419,545 shares of the company’s stock worth $8,901,000 after purchasing an additional 399,478 shares during the period. Allspring Global Investments Holdings LLC increased its stake in AMC Networks by 35.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock worth $9,423,000 after purchasing an additional 349,373 shares during the period. Millennium Management LLC lifted its position in AMC Networks by 1,309.4% in the fourth quarter. Millennium Management LLC now owns 346,923 shares of the company’s stock valued at $3,303,000 after purchasing an additional 322,308 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in AMC Networks by 902.2% in the third quarter. Russell Investments Group Ltd. now owns 286,603 shares of the company’s stock valued at $2,362,000 after purchasing an additional 258,005 shares during 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.