AMC Networks (NASDAQ:AMCX) Upgraded by Seaport Res Ptn to Strong-Buy

Seaport Res Ptn upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. Seaport Res Ptn also issued estimates for AMC Networks’ Q3 2024 earnings at $1.09 EPS, Q4 2024 earnings at $1.56 EPS, FY2024 earnings at $5.06 EPS, Q1 2025 earnings at $1.60 EPS, Q2 2025 earnings at $1.32 EPS, Q3 2025 earnings at $1.17 EPS, Q4 2025 earnings at $1.49 EPS, FY2025 earnings at $5.58 EPS and FY2026 earnings at $5.51 EPS.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company cut their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.50.

AMC Networks Trading Down 0.4 %

Shares of AMCX opened at $8.09 on Tuesday. The firm’s 50-day moving average price is $8.72 and its 200-day moving average price is $10.96. The firm has a market capitalization of $352.42 million, a price-to-earnings ratio of 2.27 and a beta of 1.28. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.17. AMC Networks has a 1-year low of $7.08 and a 1-year high of $20.97.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.28). The company had revenue of $625.90 million for the quarter, compared to the consensus estimate of $601.41 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. Sell-side analysts anticipate that AMC Networks will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in AMC Networks by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company’s stock worth $520,000 after buying an additional 1,434 shares during the last quarter. EMC Capital Management raised its holdings in AMC Networks by 23.8% in the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after buying an additional 1,500 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in AMC Networks by 6.6% in the third quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company’s stock worth $302,000 after buying an additional 2,150 shares during the last quarter. Quarry LP raised its holdings in AMC Networks by 119.2% in the second quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after buying an additional 2,336 shares during the last quarter. Finally, Swiss National Bank raised its holdings in AMC Networks by 6.1% in the first quarter. Swiss National Bank now owns 57,000 shares of the company’s stock worth $691,000 after buying an additional 3,300 shares during the last quarter. 78.51% of the stock is owned by hedge funds and other institutional investors.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.