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

AMC Networks Inc. (NASDAQ:AMCX) has earned a consensus recommendation of “Reduce” from the four brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $11.00.

AMCX has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, August 12th. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 12th.

AMC Networks Stock Up 0.6 %

Shares of AMC Networks stock opened at $8.27 on Wednesday. The stock has a 50-day simple moving average of $9.26 and a 200-day simple moving average of $11.30. AMC Networks has a 52-week low of $7.08 and a 52-week high of $20.97. The company has a debt-to-equity ratio of 2.17, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market cap of $360.26 million, a price-to-earnings ratio of 2.32 and a beta of 1.28.

AMC Networks (NASDAQ:AMCX) last posted its earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.28). AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The company had revenue of $625.90 million during the quarter, compared to analyst estimates of $601.41 million. During the same quarter last year, the firm posted $2.02 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts expect that AMC Networks will post 4.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMCX. Marshall Wace LLP bought a new position in AMC Networks in the 2nd quarter worth approximately $4,456,000. RWWM Inc. increased its position in shares of AMC Networks by 193.7% during the fourth quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after purchasing an additional 339,912 shares during the period. Dimensional Fund Advisors LP increased its position in shares of AMC Networks by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after purchasing an additional 250,738 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of AMC Networks by 234.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 278,802 shares of the company’s stock valued at $2,693,000 after purchasing an additional 195,444 shares during the period. Finally, Koss Olinger Consulting LLC bought a new stake in shares of AMC Networks during the second quarter valued at approximately $1,569,000. 78.51% of the stock is owned by 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.