Zacks Research Upgrades AMC Networks (NASDAQ:AMCX) to "Strong-Buy"

Key Points

• Zacks Research upgraded AMC Networks to a "strong-buy" rating, which contrasts with other analysts' mixed ratings, including a sell from Weiss Ratings.
• AMC Networks reported quarterly earnings of $0.69 per share, beating expectations and generating revenue of $600.02 million, despite a year-over-year decline.
• Institutional investors have significantly increased their stakes in AMC Networks, with over 78% of the stock owned by institutional investors and hedge funds.

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

AMCX has been the topic of several other reports. Wells Fargo & Company reiterated an "underweight" rating on shares of AMC Networks in a research report on Sunday, August 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AMC Networks in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, AMC Networks has a consensus rating of "Reduce" and an average price target of $5.38.

AMC Networks Stock Down 0.5%

AMC Networks stock opened at $7.89 on Tuesday. AMC Networks has a 52 week low of $5.41 and a 52 week high of $10.60. The stock has a market cap of $342.30 million, a price-to-earnings ratio of -1.81 and a beta of 1.47. The company's 50-day moving average price is $7.39 and its two-hundred day moving average price is $6.68. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 2.11.

AMC Networks (NASDAQ:AMCX - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.15. AMC Networks had a negative net margin of 7.42% and a positive return on equity of 15.73%. The business had revenue of $600.02 million during the quarter, compared to analysts' expectations of $582.99 million. During the same period last year, the firm posted $1.24 earnings per share. The business's revenue was down 4.1% on a year-over-year basis. AMC Networks has set its FY 2025 guidance at EPS. On average, analysts expect that AMC Networks will post 2.62 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of AMC Networks by 44.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 396,710 shares of the company's stock valued at $2,721,000 after purchasing an additional 121,844 shares during the period. Concurrent Investment Advisors LLC lifted its stake in AMC Networks by 115.6% during the first quarter. Concurrent Investment Advisors LLC now owns 23,057 shares of the company's stock valued at $159,000 after buying an additional 12,365 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of AMC Networks by 570.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 90,911 shares of the company's stock worth $625,000 after buying an additional 77,350 shares during the period. Graham Capital Management L.P. boosted its holdings in shares of AMC Networks by 422.0% in the first quarter. Graham Capital Management L.P. now owns 136,955 shares of the company's stock worth $942,000 after buying an additional 110,719 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AMC Networks by 17.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 683,395 shares of the company's stock worth $4,702,000 after acquiring an additional 100,158 shares in the last quarter. 78.51% of the stock is owned by institutional investors and hedge funds.

AMC Networks Company Profile

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.

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