AMC Networks Inc. (NASDAQ:AMCX) Stock Has Average Target Price of $10.00 According to Brokerages

Key Points

• AMC Networks has a consensus “Strong Sell” rating from five analysts, with three sells and two holds. The average 12-month price target is $10.00, though individual targets range from $9 to $11.
• The company’s latest quarterly results missed expectations: EPS was a loss of $0.28 versus the expected loss of $0.12, while revenue fell 8.8% year over year to $547.5 million.
• AMCX opened at $9.18, below its 50-day and 200-day moving averages, while institutional investors own 78.51% of outstanding shares. An executive also sold 10,648 shares at an average price of $12.35.

AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) has been given a consensus recommendation of "Strong Sell" by the five research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $10.00.

Several equities research analysts recently issued reports on AMCX shares. Weiss Ratings lowered shares of AMC Networks from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. UBS Group upped their price objective on shares of AMC Networks from $6.00 to $10.00 and gave the stock a "sell" rating in a research report on Wednesday, August 12th. Wells Fargo & Company increased their price objective on shares of AMC Networks from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Zacks Research downgraded shares of AMC Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 10th. Finally, Morgan Stanley cut their target price on shares of AMC Networks from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Thursday, October 15th.

Insider Activity

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. Company insiders own 16.13% of the company's stock.

Institutional Investors Weigh In On AMC Networks

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased 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 worth $9,423,000 after purchasing an additional 349,373 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of AMC Networks during the first quarter valued at about $1,060,000. Meeder Asset Management Inc. boosted its stake in shares of AMC Networks by 70.2% during the first quarter. Meeder Asset Management Inc. now owns 18,534 shares of the company's stock valued at $126,000 after purchasing an additional 7,643 shares in the last quarter. Money Concepts Capital Corp boosted its stake in shares of AMC Networks by 13.7% during the first quarter. Money Concepts Capital Corp now owns 65,109 shares of the company's stock valued at $442,000 after purchasing an additional 7,846 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new stake in shares of AMC Networks during the first quarter worth about $301,000. Institutional investors and hedge funds own 78.51% of the company's stock.

AMC Networks Stock Performance

NASDAQ:AMCX opened at $9.18 on Monday. The stock's 50-day simple moving average is $11.62 and its 200 day simple moving average is $10.31. The firm has a market capitalization of $378.68 million, a PE ratio of -11.19 and a beta of 1.39. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.76. AMC Networks has a twelve month low of $6.47 and a twelve month high of $12.93.

AMC Networks (NASDAQ:AMCX - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). The business had revenue of $547.50 million during the quarter, compared to the consensus estimate of $555.74 million. AMC Networks had a negative net margin of 0.88% and a positive return on equity of 3.76%. The business's revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. On average, analysts anticipate that AMC Networks will post 2.41 EPS for the current fiscal year.

AMC Networks Company Profile

AMC Networks Inc is an entertainment company that develops, produces, and distributes television and digital media content. The company's portfolio includes the AMC, BBC America, IFC, SundanceTV, and WE tv networks, which offer scripted and unscripted programming, films, documentaries, and other entertainment content.

AMC Networks also operates a range of streaming and digital services, including AMC+, Acorn TV, Shudder, ALLBLK, and HIDIVE. These platforms provide on-demand access to original series, films, genre programming, international content, and offerings from the company's television brands.

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