Shares of AMC Networks Inc. (NASDAQ:AMCX – Get Free Report) have received a consensus rating of “Reduce” from the four analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $11.00.
A number of brokerages have recently weighed in on AMCX. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research 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 on the stock in a report on Monday, August 12th.
AMC Networks Price Performance
Shares of NASDAQ AMCX traded down $0.32 during midday trading on Friday, hitting $8.99. The company had a trading volume of 871,438 shares, compared to its average volume of 936,991. The firm has a market capitalization of $391.62 million, a price-to-earnings ratio of 2.52 and a beta of 1.29. AMC Networks has a twelve month low of $8.84 and a twelve month high of $20.97. The business has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $11.98. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17.
AMC Networks (NASDAQ:AMCX – Get Free Report) last posted its quarterly 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). AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The company had revenue of $625.90 million for the quarter, compared to analyst estimates of $601.41 million. During the same quarter in the previous year, the business posted $2.02 earnings per share. AMC Networks’s revenue was down 7.8% on a year-over-year basis. Equities research analysts anticipate that AMC Networks will post 4.86 earnings per share for the current year.
Institutional Trading of AMC Networks
Hedge funds have recently bought and sold shares of the company. Quarry LP lifted its stake in shares of AMC Networks by 119.2% during the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after purchasing an additional 2,336 shares during the period. EntryPoint Capital LLC purchased a new position in AMC Networks during the first quarter worth about $60,000. Innealta Capital LLC purchased a new position in AMC Networks during the second quarter worth about $48,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AMC Networks by 94.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,091 shares of the company’s stock worth $114,000 after buying an additional 2,959 shares during the last quarter. Finally, EMC Capital Management grew its holdings in AMC Networks by 23.8% in the 1st quarter. EMC Capital Management now owns 7,792 shares of the company’s stock valued at $95,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 78.51% of the company’s stock.
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.