AMC Networks (NASDAQ:AMCX – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
AMCX has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut their price target on AMC Networks from $45.00 to $32.00 and set a “sell” rating on the stock in a report on Tuesday, February 22nd. Wells Fargo & Company lowered their price objective on AMC Networks from $45.00 to $32.00 and set an “underweight” rating for the company in a research report on Thursday, February 17th. Guggenheim lowered their price objective on AMC Networks from $44.00 to $35.00 in a research report on Friday, May 6th. Zacks Investment Research raised AMC Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, February 23rd. Finally, Morgan Stanley lowered their price objective on AMC Networks from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Thursday, February 17th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.00.
Shares of NASDAQ:AMCX opened at $41.07 on Thursday. AMC Networks has a 12-month low of $31.10 and a 12-month high of $72.80. The business’s fifty day simple moving average is $37.71 and its 200-day simple moving average is $39.37. The company has a market capitalization of $1.74 billion, a PE ratio of 6.68 and a beta of 0.96. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 2.86.
AMC Networks (NASDAQ:AMCX – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $2.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.09). AMC Networks had a net margin of 8.64% and a return on equity of 45.15%. The company had revenue of $712.16 million during the quarter, compared to analysts’ expectations of $760.80 million. During the same quarter in the prior year, the business posted $2.98 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Research analysts predict that AMC Networks will post 8.42 EPS for the current year.
In other AMC Networks news, EVP James Gallagher sold 20,000 shares of AMC Networks stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.56% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc lifted its position in AMC Networks by 568.9% during the 4th quarter. NEXT Financial Group Inc now owns 709 shares of the company’s stock worth $25,000 after acquiring an additional 603 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of AMC Networks in the 3rd quarter valued at about $46,000. Strs Ohio acquired a new position in shares of AMC Networks in the 1st quarter valued at about $65,000. Investors Research Corp lifted its holdings in shares of AMC Networks by 32.0% in the 1st quarter. Investors Research Corp now owns 1,650 shares of the company’s stock valued at $67,000 after buying an additional 400 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in shares of AMC Networks by 78.4% in the 1st quarter. Captrust Financial Advisors now owns 1,984 shares of the company’s stock valued at $81,000 after buying an additional 872 shares during the period. 78.02% of the stock is owned by institutional investors.
About AMC Networks (Get Rating)
AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.