Amc Networks (AMCX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Amc Networks (NASDAQ:AMCX) from a sell rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “

Several other equities research analysts also recently commented on AMCX. ValuEngine raised shares of Amc Networks from a sell rating to a hold rating in a research report on Wednesday, October 31st. BidaskClub downgraded shares of Amc Networks from a hold rating to a sell rating in a research report on Wednesday, July 25th. Guggenheim reissued a hold rating and set a $58.00 target price on shares of Amc Networks in a research report on Friday, July 13th. Imperial Capital initiated coverage on shares of Amc Networks in a research report on Thursday, July 19th. They set an in-line rating and a $65.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Amc Networks from $62.00 to $65.00 and gave the stock a neutral rating in a report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $62.20.

Shares of NASDAQ:AMCX traded down $0.09 during midday trading on Tuesday, hitting $59.91. 6,576 shares of the company’s stock were exchanged, compared to its average volume of 849,677. The company has a debt-to-equity ratio of 10.69, a current ratio of 2.51 and a quick ratio of 2.51. The company has a market cap of $3.48 billion, a PE ratio of 8.13, a PEG ratio of 0.81 and a beta of 0.79. Amc Networks has a 12 month low of $46.89 and a 12 month high of $69.02.

Amc Networks (NASDAQ:AMCX) last posted its earnings results on Thursday, November 1st. The company reported $2.15 EPS for the quarter, topping the consensus estimate of $1.78 by $0.37. The company had revenue of $696.87 million during the quarter, compared to the consensus estimate of $693.20 million. Amc Networks had a net margin of 17.76% and a return on equity of 221.77%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, equities research analysts expect that Amc Networks will post 8.27 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management boosted its holdings in Amc Networks by 31.0% during the third quarter. LSV Asset Management now owns 2,670,585 shares of the company’s stock worth $177,166,000 after purchasing an additional 631,430 shares during the last quarter. Boston Partners boosted its stake in Amc Networks by 1.1% in the second quarter. Boston Partners now owns 801,820 shares of the company’s stock valued at $49,873,000 after acquiring an additional 9,062 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Amc Networks by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 654,502 shares of the company’s stock valued at $40,712,000 after acquiring an additional 86,704 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Amc Networks by 8.6% in the third quarter. Bank of New York Mellon Corp now owns 618,306 shares of the company’s stock valued at $41,018,000 after acquiring an additional 48,769 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Amc Networks by 4.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 425,667 shares of the company’s stock valued at $26,477,000 after acquiring an additional 18,359 shares during the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Amc Networks Company Profile

AMC Networks Inc owns and operates various cable television's brands delivering content to audiences, and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, National Networks; and International and Other. The National Networks segment operates five distributed entertainment programming networks under the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV names in high definition and standard definition formats.

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