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

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

A number of other equities analysts also recently weighed in on AMCX. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMC Networks presently has an average rating of “Hold” and a consensus price target of $8.50.

AMC Networks Stock Performance

AMCX opened at $9.52 on Monday. AMC Networks has a 52-week low of $7.08 and a 52-week high of $20.97. The firm has a market capitalization of $419.83 million, a PE ratio of 15.11 and a beta of 1.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.13 and a current ratio of 2.32. The business’s 50-day simple moving average is $8.28 and its 200 day simple moving average is $10.73.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. The firm had revenue of $599.60 million for the quarter, compared to the consensus estimate of $587.12 million. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.85 earnings per share. As a group, sell-side analysts expect that AMC Networks will post 4.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Several institutional investors and hedge funds have recently made changes to their positions in AMCX. BNP Paribas Financial Markets grew its position in shares of AMC Networks by 81.0% in the first quarter. BNP Paribas Financial Markets now owns 15,441 shares of the company’s stock valued at $187,000 after purchasing an additional 6,911 shares during the last quarter. Empowered Funds LLC acquired a new stake in AMC Networks during the first quarter worth approximately $1,877,000. Swiss National Bank grew its position in AMC Networks by 6.1% during the first quarter. Swiss National Bank now owns 57,000 shares of the company’s stock worth $691,000 after buying an additional 3,300 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in AMC Networks during the first quarter worth approximately $60,000. Finally, Price T Rowe Associates Inc. MD grew its position in AMC Networks by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company’s stock worth $520,000 after buying an additional 1,434 shares in the last quarter. Institutional investors and hedge funds own 78.51% of the company’s stock.

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.