AMC Networks Inc. (NASDAQ:AMCX) Receives $11.00 Consensus Price Target from Analysts

AMC Networks Inc. (NASDAQ:AMCX) has received an average rating of “Reduce” from the four ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.00.

Several analysts have issued reports on the company. Wells Fargo & Company cut their price target 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 downgraded AMC Networks from a “buy” rating to a “hold” rating in a report on Friday, July 12th.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $7.98 on Friday. The firm has a market capitalization of $347.62 million, a P/E ratio of 2.24 and a beta of 1.29. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17. The stock’s 50-day simple moving average is $10.04 and its two-hundred day simple moving average is $11.89. AMC Networks has a twelve month low of $7.51 and a twelve month high of $20.97.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data 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 business had revenue of $625.90 million during the quarter, compared to analysts’ expectations of $601.41 million. During the same quarter last year, the business posted $2.02 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that AMC Networks will post 4.86 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in AMC Networks in the second quarter valued at approximately $4,456,000. RWWM Inc. boosted its stake in AMC Networks by 193.7% in the fourth quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after acquiring an additional 339,912 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AMC Networks by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after acquiring an additional 250,738 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 worth $2,693,000 after buying an additional 195,444 shares during the period. Finally, Koss Olinger Consulting LLC purchased a new position in AMC Networks during the second quarter worth about $1,569,000. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.