AMC Networks (NASDAQ:AMCX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of AMC Networks (NASDAQ:AMCX) from a strong sell rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

AMCX has been the topic of several other reports. Weiss Ratings raised AMC Networks from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 28th. Morgan Stanley upped their price target on AMC Networks from $7.00 to $10.00 and gave the stock an “underweight” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their price objective on AMC Networks from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AMC Networks has a consensus rating of “Hold” and an average target price of $10.50.

AMC Networks Stock Performance

NASDAQ AMCX opened at $12.03 on Tuesday. The firm has a market cap of $528.48 million, a price-to-earnings ratio of -14.67 and a beta of 1.33. The company has a 50-day simple moving average of $10.09 and a two-hundred day simple moving average of $8.67. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. AMC Networks has a 12-month low of $5.68 and a 12-month high of $12.44.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.16). AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The company had revenue of $547.50 million during the quarter, compared to analysts’ expectations of $555.74 million. During the same period last year, the firm earned $0.69 earnings per share. AMC Networks’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts forecast that AMC Networks will post 2.52 EPS for the current year.

Institutional Investors Weigh In On AMC Networks

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of AMC Networks by 26.0% during the fourth 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 in the last quarter. Vanguard Group Inc. grew its position in AMC Networks by 6.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,170,004 shares of the company’s stock valued at $17,881,000 after purchasing an additional 132,013 shares during the last quarter. Marshall Wace LLP increased its stake in AMC Networks by 3.2% during 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. Allspring Global Investments Holdings LLC increased its stake in AMC Networks by 35.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company’s stock valued at $9,423,000 after purchasing an additional 349,373 shares in the last quarter. Finally, UBS Group AG raised its holdings in AMC Networks by 13.2% in the third quarter. UBS Group AG now owns 1,170,464 shares of the company’s stock worth $9,645,000 after buying an additional 136,771 shares during the last quarter. 78.51% of the stock is owned by institutional investors.

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.