AMC Networks Inc. (NASDAQ:AMCX) Receives Average Rating of “Hold” from Analysts

AMC Networks Inc. (NASDAQ:AMCX) has been given an average recommendation of “Hold” by the eleven research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $49.11.

AMCX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded AMC Networks from a “hold” rating to a “sell” rating and increased their price target for the stock from $32.00 to $48.00 in a report on Thursday, July 22nd. Zacks Investment Research upgraded AMC Networks from a “sell” rating to a “hold” rating in a report on Tuesday, August 10th. Finally, TheStreet downgraded AMC Networks from a “b-” rating to a “c+” rating in a report on Thursday, August 19th.

Shares of NASDAQ AMCX traded down $0.42 during trading hours on Tuesday, reaching $46.56. 587,893 shares of the stock traded hands, compared to its average volume of 734,641. The company has a market capitalization of $1.93 billion, a P/E ratio of 7.62 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 3.60. AMC Networks has a 52-week low of $20.16 and a 52-week high of $83.63. The company’s 50-day simple moving average is $51.16 and its two-hundred day simple moving average is $55.97.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, August 5th. The company reported $3.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.18 by $1.27. The business had revenue of $771.39 million for the quarter, compared to the consensus estimate of $698.12 million. AMC Networks had a return on equity of 64.53% and a net margin of 9.64%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.39 earnings per share. As a group, sell-side analysts forecast that AMC Networks will post 8.34 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in AMC Networks by 1.3% in the second quarter. BlackRock Inc. now owns 4,882,302 shares of the company’s stock valued at $326,138,000 after purchasing an additional 64,137 shares during the period. Vanguard Group Inc. grew its stake in AMC Networks by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,152,703 shares of the company’s stock worth $210,601,000 after acquiring an additional 39,723 shares during the period. Contrarius Investment Management Ltd boosted its holdings in shares of AMC Networks by 2.8% in the 2nd quarter. Contrarius Investment Management Ltd now owns 2,259,355 shares of the company’s stock valued at $150,925,000 after purchasing an additional 62,406 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of AMC Networks by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,237,283 shares of the company’s stock valued at $82,650,000 after acquiring an additional 62,110 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of AMC Networks by 7.3% during the 2nd quarter. FMR LLC now owns 1,166,498 shares of the company’s stock valued at $77,922,000 after acquiring an additional 79,079 shares in the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.

AMC Networks Company Profile

AMC Networks, Inc is a holding company, which engages in owning and management of cable television networks through its subsidiaries. It operates through the National Networks and International and Other segments. The National Networks segment includes activities of AMC Studios operations, AMC Broadcasting and Technology, and national programming networks, namely: AMC, WEtv, BBC AMERICA, IFC, and SundanceTV in the U.

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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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