Analysts Set AMC Networks Inc. (NASDAQ:AMCX) PT at $6.50

Shares of AMC Networks Inc. (NASDAQ:AMCX) have earned a consensus rating of “Strong Sell” from the six analysts that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $6.50.

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

AMC Networks Stock Performance

NASDAQ:AMCX opened at $7.95 on Tuesday. 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 firm has a market cap of $346.06 million, a PE ratio of -2.12 and a beta of 1.04. The firm has a 50 day simple moving average of $8.99 and a 200-day simple moving average of $7.85. AMC Networks has a 1-year low of $5.41 and a 1-year high of $10.60.

AMC Networks (NASDAQ:AMCX) last released its 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 firm had revenue of $561.74 million during the quarter, compared to analysts’ expectations of $549.27 million. AMC Networks had a positive return on equity of 11.67% and a negative net margin of 6.03%.The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.91 earnings per share. On average, equities analysts expect that AMC Networks will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. RWWM Inc. grew its position in AMC Networks by 22.7% during the second quarter. RWWM Inc. now owns 3,330,026 shares of the company’s stock valued at $20,879,000 after acquiring an additional 617,105 shares during the period. Vanguard Group Inc. raised its holdings 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 period. Marshall Wace LLP lifted its stake 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 valued at $12,069,000 after purchasing an additional 45,093 shares in the last quarter. UBS Group AG grew its holdings in shares of AMC Networks by 13.2% during 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 during the period. Finally, Allspring Global Investments Holdings LLC increased its position in AMC Networks by 25.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 996,769 shares of the company’s stock worth $9,220,000 after purchasing an additional 204,895 shares in the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

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.