Zacks Investment Research lowered shares of AMC Networks Inc. (NASDAQ:AMCX) from a hold rating to a sell rating in a research note released on Monday morning.
According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “
A number of other brokerages also recently commented on AMCX. TheStreet downgraded shares of AMC Networks from a buy rating to a hold rating in a research report on Wednesday, June 29th. Sanford C. Bernstein restated a market perform rating on shares of AMC Networks in a research report on Friday, June 17th. Albert Fried & Company restated a buy rating and set a $97.00 price objective on shares of AMC Networks in a research report on Wednesday, June 22nd. Morgan Stanley downgraded shares of AMC Networks from an overweight rating to an equal weight rating and cut their price objective for the stock from $78.00 to $65.00 in a research report on Wednesday, June 22nd. Finally, Jefferies Group cut their price objective on shares of AMC Networks from $72.00 to $67.00 and set a hold rating for the company in a research report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $73.13.
AMC Networks (NASDAQ:AMCX) opened at 50.05 on Monday. The stock has a 50 day moving average of $52.34 and a 200 day moving average of $58.93. The stock has a market capitalization of $3.57 billion, a P/E ratio of 10.42 and a beta of 0.84. AMC Networks has a 1-year low of $49.67 and a 1-year high of $83.78.
AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.28. The company earned $685 million during the quarter, compared to the consensus estimate of $676.87 million. AMC Networks had a net margin of 13.08% and a return on equity of 1,153.89%. AMC Networks’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, analysts expect that AMC Networks will post $5.56 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its position in shares of AMC Networks by 990.7% in the first quarter. Glenmede Trust Co. NA now owns 4,701 shares of the company’s stock valued at $304,000 after buying an additional 4,270 shares during the last quarter. Ngam Advisors L.P. raised its position in shares of AMC Networks by 14.0% in the first quarter. Ngam Advisors L.P. now owns 42,628 shares of the company’s stock valued at $2,768,000 after buying an additional 5,227 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of AMC Networks by 13.8% in the first quarter. Teachers Advisors Inc. now owns 420,248 shares of the company’s stock valued at $27,291,000 after buying an additional 50,806 shares during the last quarter. Prudential Financial Inc. raised its position in shares of AMC Networks by 628.0% in the first quarter. Prudential Financial Inc. now owns 300,473 shares of the company’s stock valued at $19,513,000 after buying an additional 259,200 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of AMC Networks by 107.6% in the first quarter. BlackRock Inc. now owns 44,967 shares of the company’s stock valued at $2,920,000 after buying an additional 23,311 shares during the last quarter. 83.72% of the stock is currently owned by institutional investors.
AMC Networks Company Profile
AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. The Company operates through two segments: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.