AMC Networks Inc. (NASDAQ:AMCX) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus is “Hold” for AMC Networks, with two sell ratings, two hold ratings and one strong-buy rating. The average 12-month price target is $10.33.
• AMC Networks’ latest quarter missed expectations, reporting an adjusted loss of $0.28 per share versus the $0.12 loss analysts expected, while revenue fell 8.8% year over year to $547.5 million.
• The stock recently traded at $11.80, near its 52-week high of $12.52, and institutional investors own a substantial 78.51% of outstanding shares.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) has received a consensus recommendation of "Hold" from the five brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.3333.

A number of equities analysts recently weighed in on AMCX shares. Morgan Stanley upped their target price on shares of AMC Networks from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Friday, July 31st. Wells Fargo & Company lifted their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of AMC Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, July 28th. Zacks Research upgraded AMC Networks from a "strong sell" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Finally, UBS Group upped their target price on AMC Networks from $6.00 to $10.00 and gave the stock a "sell" rating in a report on Wednesday.

AMC Networks Trading Up 0.1%

NASDAQ:AMCX traded up $0.01 on Wednesday, reaching $11.80. The company's stock had a trading volume of 49,979 shares, compared to its average volume of 518,475. AMC Networks has a 1-year low of $6.47 and a 1-year high of $12.52. The business's 50-day moving average price is $10.23 and its two-hundred day moving average price is $8.78. The firm has a market cap of $486.75 million, a PE ratio of -14.36 and a beta of 1.33. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.76 and a current ratio of 1.76.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The business had revenue of $547.50 million during the quarter, compared to analyst estimates of $555.74 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. AMC Networks's revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that AMC Networks will post 2.77 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of AMC Networks by 26.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,244,315 shares of the company's stock valued at $21,366,000 after buying an additional 462,457 shares in the last quarter. Marshall Wace LLP increased its stake in AMC Networks by 39.2% during the 2nd quarter. Marshall Wace LLP now owns 1,419,545 shares of the company's stock worth $8,901,000 after acquiring an additional 399,478 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in AMC Networks by 35.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company's stock valued at $9,423,000 after acquiring an additional 349,373 shares in the last quarter. Millennium Management LLC lifted its position in shares of AMC Networks by 1,309.4% during the 4th quarter. Millennium Management LLC now owns 346,923 shares of the company's stock valued at $3,303,000 after acquiring an additional 322,308 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of AMC Networks by 902.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 286,603 shares of the company's stock worth $2,362,000 after purchasing an additional 258,005 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

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.

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