AMC Networks (NASDAQ:AMCX) Reaches New 52-Week High - What's Next?

Key Points

• AMC Networks shares hit a new 52-week high, reaching $12.44 before closing at $12.03, up 5.5% from the prior close. The stock’s 50-day and 200-day moving averages were $10.09 and $8.67, respectively.
• Analyst sentiment remains cautious: the consensus rating is “Reduce,” with two Hold and two Sell ratings and an average price target of $10.50, below the recent trading price.
• The company’s latest quarter fell short of expectations, reporting an adjusted loss of $0.28 per share versus an expected loss of $0.12 and revenue of $547.5 million versus $555.74 million expected. Revenue declined 8.8% year over year, while institutional investors own 78.51% of the stock.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $12.44 and last traded at $12.03, with a volume of 1452686 shares traded. The stock had previously closed at $11.40.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AMCX. Morgan Stanley increased their price objective on AMC Networks from $7.00 to $10.00 and gave the company an "underweight" rating in a research note on Friday, July 31st. Zacks Research downgraded AMC Networks from a "hold" rating to a "strong sell" rating in a report on Thursday, July 23rd. Wells Fargo & Company upped their price target on AMC Networks from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Finally, Weiss Ratings raised AMC Networks from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $10.50.

AMC Networks Trading Up 5.5%

The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. The business's fifty day simple moving average is $10.09 and its two-hundred day simple moving average is $8.67. The company has a market cap of $528.48 million, a price-to-earnings ratio of -14.67 and a beta of 1.33.

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 for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The company had revenue of $547.50 million for the quarter, compared to analysts' expectations of $555.74 million. AMC Networks had a positive return on equity of 3.76% and a negative net margin of 0.88%.The firm's quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, equities analysts predict that AMC Networks Inc. will post 2.52 EPS for the current year.

Hedge Funds Weigh In On AMC Networks

Several large investors have recently bought and sold shares of AMCX. Raymond James Financial Inc. purchased a new position in shares of AMC Networks during the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of AMC Networks by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,786 shares of the company's stock valued at $30,000 after purchasing an additional 2,735 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of AMC Networks in the 3rd quarter valued at about $43,000. Kestra Advisory Services LLC acquired a new stake in shares of AMC Networks in the 4th quarter valued at about $63,000. Finally, State of Wyoming purchased a new position in AMC Networks during the 2nd quarter worth approximately $51,000. Institutional investors and hedge funds own 78.51% of the company's stock.

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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