AMC Networks (NASDAQ:AMCX) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• AMC Networks shares rose above their 200-day moving average, trading as high as $10.24 and last changing hands around $10.07, signaling a short-term technical improvement in the stock.
• Wall Street sentiment remains cautious, with the stock carrying an average rating of “Reduce” and an average price target of $8.50; analysts currently split between Hold and Sell ratings.
• Recent earnings were mixed: AMC Networks beat revenue expectations slightly but missed EPS estimates, while revenue still declined 2.4% year over year and analysts forecast 1.82 EPS for the current fiscal year.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.50 and traded as high as $10.24. AMC Networks shares last traded at $10.07, with a volume of 276,483 shares trading hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMCX shares. Weiss Ratings raised AMC Networks from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, July 2nd. Morgan Stanley set a $7.00 price target on AMC Networks in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $8.50.

AMC Networks Stock Up 0.8%

The company has a debt-to-equity ratio of 1.75, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a 50 day simple moving average of $9.38 and a 200-day simple moving average of $8.50. The firm has a market cap of $442.38 million, a PE ratio of 16.78 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its earnings results on Friday, May 8th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.14). The company had revenue of $542.13 million during the quarter, compared to analysts' expectations of $540.67 million. AMC Networks had a return on equity of 8.70% and a net margin of 2.28%.The company's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Sell-side analysts predict that AMC Networks Inc. will post 1.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About AMC Networks

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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