AMC Networks Inc. (NASDAQ:AMCX) Receives Average Recommendation of "Strong Sell" from Brokerages

Key Points

• Six research firms covering AMC Networks have an average recommendation of Strong Sell (four sell, two hold), with an average 12‑month target price of $7.00.
• In the latest quarter AMC Networks reported EPS of $0.64 (beat vs. $0.50 estimate) and revenue of $594.8M (vs. $581.8M expected); the stock trades near $7.17 with a market cap of $306.2M and a PE of 5.23, and a 12‑month range of $5.41–$10.27.
• CAO Michael J. Sherin III sold 5,963 shares—reducing his holding by about 35.9%—while corporate insiders own 15.62% of the company and institutional investors hold 78.51%.

Shares of AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) have earned a consensus recommendation of "Strong Sell" from the six research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.00.

AMCX has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of AMC Networks from $5.50 to $6.00 and gave the stock an "underweight" rating in a research report on Thursday, December 18th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AMC Networks in a research note on Wednesday, January 21st. Wells Fargo & Company boosted their price objective on shares of AMC Networks from $8.00 to $10.00 and gave the stock an "equal weight" rating in a report on Thursday, February 12th. Zacks Research raised shares of AMC Networks from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 6th. Finally, Seaport Research Partners downgraded AMC Networks from a "strong-buy" rating to a "hold" rating in a research note on Sunday, December 14th.

AMC Networks Price Performance

AMCX stock opened at $7.17 on Friday. The company has a market cap of $306.23 million, a PE ratio of 5.23 and a beta of 1.16. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.72. The stock has a 50-day moving average price of $7.53 and a two-hundred day moving average price of $8.12. AMC Networks has a 12-month low of $5.41 and a 12-month high of $10.27.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.50 by $0.14. The firm had revenue of $594.80 million for the quarter, compared to analyst estimates of $581.83 million. AMC Networks had a net margin of 3.87% and a return on equity of 11.32%. AMC Networks's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, research analysts predict that AMC Networks will post 2.62 EPS for the current year.

Insider Buying and Selling

In related news, CAO Michael J. Sherin III sold 5,963 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.96, for a total value of $47,465.48. Following the completion of the transaction, the chief accounting officer owned 10,648 shares of the company's stock, valued at approximately $84,758.08. This represents a 35.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 15.62% of the company's stock.

Hedge Funds Weigh In On AMC Networks

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of AMC Networks during the second quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. raised its holdings in AMC Networks by 133.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company's stock valued at $30,000 after acquiring an additional 2,735 shares in the last quarter. Advisory Services Network LLC acquired a new stake in AMC Networks in the third quarter valued at $43,000. Meeder Asset Management Inc. bought a new position in AMC Networks during the 3rd quarter valued at $52,000. Finally, Kestra Advisory Services LLC bought a new position in AMC Networks during the 4th quarter valued at $63,000. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Company Profile

AMC Networks Inc NASDAQ: AMCX is a global entertainment company that specializes in the development, production and distribution of premium content for television and streaming platforms. Headquartered in New York City, the company operates a portfolio of pay television channels in the U.S. and abroad, and offers direct-to-consumer streaming services that feature both original programming and licensed fare. AMC Networks is best known for critically acclaimed series such as “Breaking Bad,” “Mad Men” and “The Walking Dead,” and it continues to invest in new scripted and unscripted content across a range of genres.

The company's core television networks in the United States include AMC, IFC, Sundance TV and WE tv, while its joint venture with BBC Studios supports BBC America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.