Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) Target Price at $8.50

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received an average recommendation of “Hold” from the three ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $8.50.

AMCX has been the topic of a number of recent research reports. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Morgan Stanley dropped their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd.

Institutional Investors Weigh In On AMC Networks

A number of hedge funds have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its holdings in AMC Networks by 6.6% during the third quarter. Exchange Traded Concepts LLC now owns 34,725 shares of the company’s stock worth $302,000 after acquiring an additional 2,150 shares during the period. DGS Capital Management LLC boosted its position in shares of AMC Networks by 9.9% during the 3rd quarter. DGS Capital Management LLC now owns 24,148 shares of the company’s stock worth $210,000 after purchasing an additional 2,180 shares in the last quarter. Quarry LP grew its stake in shares of AMC Networks by 119.2% during the 2nd quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after purchasing an additional 2,336 shares during the period. Entropy Technologies LP grew its stake in shares of AMC Networks by 24.2% during the 3rd quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock worth $125,000 after purchasing an additional 2,800 shares during the period. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of AMC Networks by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 176,830 shares of the company’s stock valued at $1,537,000 after purchasing an additional 3,669 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Trading Up 1.3 %

AMCX opened at $9.37 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. AMC Networks has a 52 week low of $7.08 and a 52 week high of $19.55. The business’s 50 day moving average is $8.89 and its two-hundred day moving average is $9.65. The firm has a market cap of $413.41 million, a price-to-earnings ratio of 14.87 and a beta of 1.34.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The business had revenue of $599.60 million for the quarter, compared to analysts’ expectations of $587.12 million. During the same period in the previous year, the company posted $1.85 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. On average, research analysts predict that AMC Networks will post 4.09 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.