AMC Networks (NASDAQ:AMCX) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded AMC Networks from “hold” to “buy,” but the broader analyst consensus remains “strong sell,” with a $10 price target.
• AMC Networks reported quarterly EPS of $0.44, beating the $0.19 loss analysts expected, while revenue of $566.1 million fell short of estimates of $573.3 million; revenue was up 0.8% year over year.
• Shares opened at $9.50, within a 52-week range of $6.47 to $12.93.

AMC Networks (NASDAQ:AMCX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company upped their target price on AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Morgan Stanley reduced their target price on AMC Networks from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Thursday, October 15th. Zacks Research cut AMC Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 10th. Weiss Ratings restated a "sell (d-)" rating on shares of AMC Networks in a research report on Wednesday, November 4th. Finally, UBS Group boosted their price target on AMC Networks from $6.00 to $10.00 and gave the company a "sell" rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, AMC Networks has a consensus rating of "Strong Sell" and a consensus price target of $10.00.

AMC Networks Trading Up 1.8%

Shares of AMCX stock opened at $9.50 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.76 and a debt-to-equity ratio of 1.85. The stock has a market cap of $391.88 million, a P/E ratio of -2.85 and a beta of 1.55. The stock has a 50 day simple moving average of $10.42 and a 200 day simple moving average of $9.51. AMC Networks has a 1 year low of $6.47 and a 1 year high of $12.93.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.63. AMC Networks had a positive return on equity of 5.58% and a negative net margin of 6.38%. The business had revenue of $566.07 million for the quarter, compared to the consensus estimate of $573.28 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts predict that AMC Networks will post 2.59 earnings per share for the current fiscal year.

Insider Activity at AMC Networks

In other news, CAO Michael Sherin, III sold 10,648 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $12.35, for a total value of $131,502.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 16.13% of the company's stock.

Institutional Investors Weigh In On AMC Networks

A number of hedge funds and other institutional investors have recently bought and sold shares of AMCX. Allspring Global Investments Holdings LLC boosted its stake in shares of AMC Networks by 35.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,346,142 shares of the company's stock valued at $9,423,000 after purchasing an additional 349,373 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of AMC Networks during the first quarter worth about $1,060,000. Meeder Asset Management Inc. increased its stake in shares of AMC Networks by 70.2% in the first quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company's stock valued at $126,000 after buying an additional 7,643 shares during the period. Signaturefd LLC increased its stake in shares of AMC Networks by 337.1% in the third quarter. Signaturefd LLC now owns 5,307 shares of the company's stock valued at $62,000 after buying an additional 4,093 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of AMC Networks in the second quarter valued at approximately $33,000. Institutional investors own 78.51% of the company's stock.

About AMC Networks

AMC Networks is a global entertainment company that develops, produces and distributes television and streaming content. Its programming includes original drama, unscripted series, films and other entertainment across a portfolio of cable networks and digital services. The company's brands include AMC, BBC America, IFC, SundanceTV and WE tv, as well as streaming services such as AMC+, Acorn TV, Shudder, Sundance Now and ALLBLK. AMC Networks also distributes content through licensing and other partnerships.

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