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

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

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

Institutional Trading of AMC Networks

Several institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after buying an additional 1,097 shares during the period. Gabelli Funds LLC increased its stake in shares of AMC Networks by 1.1% during the 4th quarter. Gabelli Funds LLC now owns 133,800 shares of the company’s stock valued at $1,325,000 after acquiring an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of AMC Networks by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company’s stock worth $494,000 after acquiring an additional 1,589 shares during the period. Rhumbline Advisers boosted its position in shares of AMC Networks by 2.9% in the fourth quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock worth $597,000 after acquiring an additional 1,680 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in AMC Networks by 31.3% in 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 during the period. Hedge funds and other institutional investors own 78.51% of the company’s stock.

AMC Networks Stock Up 1.9 %

Shares of AMC Networks stock opened at $7.05 on Friday. AMC Networks has a 52-week low of $6.65 and a 52-week high of $18.58. The company has a 50 day moving average of $9.05 and a 200 day moving average of $8.96. 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 market capitalization of $311.16 million, a P/E ratio of -1.34 and a beta of 1.31.

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

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.