AMC Networks Inc. (NASDAQ:AMCX) Given Average Recommendation of “Hold” by Brokerages

AMC Networks Inc. (NASDAQ:AMCX) has earned an average rating of “Hold” from the three ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several research firms have issued reports on AMCX. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Wells Fargo & Company reduced their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Finally, Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd.

Hedge Funds Weigh In On AMC Networks

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of AMC Networks by 18.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock worth $15,703,000 after purchasing an additional 250,738 shares during the period. American Century Companies Inc. grew its position in AMC Networks by 6.8% during the second quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock worth $6,836,000 after buying an additional 45,266 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in AMC Networks by 40.8% during the second quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock valued at $5,164,000 after acquiring an additional 154,927 shares during the period. Marshall Wace LLP acquired a new position in AMC Networks in the 2nd quarter valued at approximately $4,456,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of AMC Networks by 20.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock worth $2,926,000 after acquiring an additional 57,952 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Stock Down 2.1 %

Shares of NASDAQ:AMCX opened at $8.10 on Friday. The firm has a market cap of $357.19 million, a PE ratio of 6.18 and a beta of 1.28. The company has a fifty day simple moving average of $8.60 and a 200 day simple moving average of $10.90. 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 12-month low of $7.08 and a 12-month high of $20.97.

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

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.