Amc Networks (AMCX) Stock Rating Upgraded by Zacks Investment Research

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

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. “

AMCX has been the subject of a number of other research reports. Goldman Sachs Group cut Amc Networks from a neutral rating to a sell rating and set a $61.00 price objective for the company. in a research report on Thursday, October 4th. ValuEngine upgraded Amc Networks from a sell rating to a hold rating in a research report on Thursday, September 27th. BidaskClub cut Amc Networks from a hold rating to a sell rating in a research report on Wednesday, July 25th. Imperial Capital assumed coverage on Amc Networks in a report on Thursday, July 19th. They issued an in-line rating and a $65.00 price target for the company. Finally, Deutsche Bank lifted their price target on Amc Networks from $55.00 to $60.00 and gave the company a hold rating in a report on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. Amc Networks has a consensus rating of Hold and a consensus target price of $62.20.

Amc Networks stock traded down $0.24 during midday trading on Tuesday, reaching $59.76. 627,439 shares of the company were exchanged, compared to its average volume of 835,879. The stock has a market cap of $3.44 billion, a PE ratio of 8.11, a P/E/G ratio of 0.80 and a beta of 0.79. Amc Networks has a 1 year low of $46.89 and a 1 year high of $69.02. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 10.69.

Amc Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Thursday, November 1st. The company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. The firm had revenue of $696.87 million during the quarter, compared to analysts’ expectations of $693.20 million. Amc Networks had a return on equity of 221.77% and a net margin of 17.76%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. On average, equities analysts predict that Amc Networks will post 8.27 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board grew its holdings in Amc Networks by 76.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 218,486 shares of the company’s stock valued at $14,494,000 after buying an additional 94,900 shares during the period. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Amc Networks during the 3rd quarter worth about $265,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Amc Networks by 45.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 93,447 shares of the company’s stock worth $6,053,000 after purchasing an additional 29,164 shares during the period. Bank of Hawaii purchased a new stake in shares of Amc Networks during the 3rd quarter worth about $206,000. Finally, Martingale Asset Management L P grew its holdings in shares of Amc Networks by 446.0% during the 3rd quarter. Martingale Asset Management L P now owns 56,859 shares of the company’s stock worth $3,773,000 after purchasing an additional 46,445 shares during the period. Institutional investors own 84.49% of the company’s stock.

About Amc Networks

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.

Further Reading: Why do company’s buyback their stock?

Get a free copy of the Zacks research report on Amc Networks (AMCX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Amc Networks (NASDAQ:AMCX)

Receive News & Ratings for Amc Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amc Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit