AMC Networks (NASDAQ:AMCX) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research report released on Monday.

A number of other equities analysts also recently commented on the stock. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company dropped their price target on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.50.

AMC Networks Stock Performance

NASDAQ AMCX opened at $8.74 on Monday. The company has a debt-to-equity ratio of 2.17, a quick ratio of 2.13 and a current ratio of 2.13. The stock’s fifty day moving average is $8.30 and its two-hundred day moving average is $10.76. AMC Networks has a fifty-two week low of $7.08 and a fifty-two week high of $20.97. The firm has a market capitalization of $385.43 million, a P/E ratio of 13.87 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings results on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The business had revenue of $599.60 million for the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.85 EPS. On average, research analysts anticipate that AMC Networks will post 4.5 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

A number of large investors have recently added to or reduced their stakes in AMCX. Dimensional Fund Advisors LP grew its stake in AMC Networks by 18.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock worth $15,703,000 after acquiring an additional 250,738 shares during the period. American Century Companies Inc. lifted its position in AMC Networks by 6.8% during the second quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock valued at $6,836,000 after buying an additional 45,266 shares in the last quarter. Dana Investment Advisors Inc. increased its position in shares of AMC Networks by 40.8% in the second quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock worth $5,164,000 after acquiring an additional 154,927 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of AMC Networks in the 2nd quarter valued at $4,456,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of AMC Networks by 20.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock valued at $2,926,000 after acquiring an additional 57,952 shares during the period. 78.51% of the stock is owned by institutional investors and hedge funds.

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.