AMC Networks Inc. (NASDAQ:AMCX) Given Average Rating of “Reduce” by Analysts

Shares of AMC Networks Inc. (NASDAQ:AMCX) have been given an average rating of “Reduce” by the four brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.00.

A number of analysts have recently weighed in on AMCX shares. JPMorgan Chase & Co. dropped their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday, February 18th. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Finally, Morgan Stanley dropped their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a report on Thursday, February 20th.

Hedge Funds Weigh In On AMC Networks

A number of institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after buying an additional 1,097 shares in the last quarter. Gabelli Funds LLC raised its stake in AMC Networks by 1.1% in the fourth quarter. Gabelli Funds LLC now owns 133,800 shares of the company’s stock worth $1,325,000 after buying an additional 1,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of AMC Networks by 3.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company’s stock valued at $494,000 after purchasing an additional 1,589 shares in the last quarter. Rhumbline Advisers increased its stake in shares of AMC Networks by 2.9% during the fourth quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock valued at $597,000 after purchasing an additional 1,680 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of AMC Networks by 31.3% during the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after purchasing an additional 1,918 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

AMC Networks Stock Performance

NASDAQ AMCX opened at $7.06 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 2.63. The company has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $8.93. The firm has a market cap of $311.60 million, a price-to-earnings ratio of -1.34 and a beta of 1.33. AMC Networks has a 12-month low of $6.65 and a 12-month high of $18.58.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). The firm had revenue of $599.30 million for the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, equities analysts forecast that AMC Networks will post 2.62 EPS for the current year.

About AMC Networks

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.