AMC Networks (NASDAQ:AMCX) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded AMC Networks from “strong buy” to “hold,” while the broader analyst consensus is “strong sell,” with an average price target of $10.33.
• AMC Networks opened at $12.17, near its 52-week high of $12.93, despite reporting a quarterly EPS loss of $0.28 that missed estimates and an 8.8% year-over-year revenue decline.
• Institutional investors own 78.51% of the company’s stock, with several funds recently increasing their positions or establishing new stakes.

AMC Networks (NASDAQ:AMCX - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday, Zacks reports.

AMCX has been the topic of several other research reports. UBS Group increased their price objective on shares of AMC Networks from $6.00 to $10.00 and gave the stock a "sell" rating in a research note on Wednesday, August 12th. Weiss Ratings cut shares of AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Morgan Stanley increased their price target on shares of AMC Networks from $7.00 to $10.00 and gave the stock an "underweight" rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price target on shares of AMC Networks from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Strong Sell" and an average price target of $10.33.

AMC Networks Stock Performance

AMCX stock opened at $12.17 on Thursday. The company has a market cap of $502.01 million, a P/E ratio of -14.84 and a beta of 1.35. AMC Networks has a 1 year low of $6.47 and a 1 year high of $12.93. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.76 and a quick ratio of 1.76. The stock's fifty day moving average price is $11.38 and its 200-day moving average price is $9.49.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). The firm had revenue of $547.50 million for the quarter, compared to analysts' expectations of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The firm's revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. On average, equities analysts forecast that AMC Networks will post 2.42 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in AMC Networks during the second quarter valued at approximately $33,000. California State Teachers Retirement System increased its stake in shares of AMC Networks by 158.3% in the second quarter. California State Teachers Retirement System now owns 4,311 shares of the company's stock worth $432,000 after purchasing an additional 2,642 shares in the last quarter. Lone Peak Global Investors LLC raised its position in shares of AMC Networks by 1.9% during the 2nd quarter. Lone Peak Global Investors LLC now owns 44,829 shares of the company's stock valued at $447,000 after purchasing an additional 833 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of AMC Networks during the 1st quarter valued at $1,060,000. Finally, Quantinno Capital Management LP raised its position in shares of AMC Networks by 8.4% during the 1st quarter. Quantinno Capital Management LP now owns 55,822 shares of the company's stock valued at $379,000 after purchasing an additional 4,325 shares during the period. 78.51% of the stock is owned by hedge funds and other 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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