AMC Networks (NASDAQ:AMCX) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of AMC Networks (NASDAQ:AMCX) from a buy rating to a hold rating in a research note published on Monday.

A number of other equities analysts also recently issued reports on the stock. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Morgan Stanley cut their price target on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMC Networks has an average rating of “Hold” and a consensus price target of $8.33.

AMC Networks Stock Up 2.2 %

Shares of AMC Networks stock opened at $8.50 on Monday. The company has a market cap of $375.02 million, a P/E ratio of -1.62 and a beta of 1.31. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.32 and a current ratio of 2.38. AMC Networks has a one year low of $7.08 and a one year high of $18.58. The firm has a fifty day moving average of $9.44 and a two-hundred day moving average of $9.12.

AMC Networks (NASDAQ:AMCX) last announced 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). The company had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. On average, analysts forecast that AMC Networks will post 3.09 earnings per share for the current year.

Hedge Funds Weigh In On AMC Networks

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in AMC Networks by 45.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after acquiring an additional 1,097 shares in the last quarter. Gabelli Funds LLC boosted 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 worth $1,325,000 after purchasing an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 1,589 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of AMC Networks by 2.9% during the 4th quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock worth $597,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after purchasing an additional 1,918 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

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.