AMC Networks (NASDAQ:AMCX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.
Other equities research analysts also recently issued reports about the company. Gabelli upgraded AMC Networks from a “hold” rating to a “buy” rating in a research report on Friday, May 11th. Zacks Investment Research upgraded AMC Networks from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Wednesday. TheStreet downgraded AMC Networks from a “b-” rating to a “c+” rating in a research report on Thursday, January 18th. Morgan Stanley upped their target price on AMC Networks from $55.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, BidaskClub upgraded AMC Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. AMC Networks currently has an average rating of “Hold” and a consensus target price of $60.13.
Shares of NASDAQ AMCX traded down $0.21 during midday trading on Thursday, hitting $57.32. 375,800 shares of the company’s stock were exchanged, compared to its average volume of 703,194. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 11.97. The company has a market cap of $3.44 billion, a PE ratio of 7.78, a P/E/G ratio of 0.90 and a beta of 0.79. AMC Networks has a twelve month low of $56.63 and a twelve month high of $57.28.
AMC Networks (NASDAQ:AMCX) last released its earnings results on Thursday, May 10th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.47. The firm had revenue of $741.00 million during the quarter, compared to the consensus estimate of $720.56 million. AMC Networks had a return on equity of 355.26% and a net margin of 17.41%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 earnings per share. sell-side analysts forecast that AMC Networks will post 8.19 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Trust Group LLC increased its holdings in shares of AMC Networks by 53,112.5% in the first quarter. Atlantic Trust Group LLC now owns 8,514 shares of the company’s stock valued at $440,000 after buying an additional 8,498 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of AMC Networks by 13.1% in the first quarter. Legal & General Group Plc now owns 68,828 shares of the company’s stock valued at $3,558,000 after buying an additional 7,974 shares in the last quarter. Millennium Management LLC increased its holdings in shares of AMC Networks by 46.9% in the first quarter. Millennium Management LLC now owns 52,372 shares of the company’s stock valued at $2,708,000 after buying an additional 16,719 shares in the last quarter. Assetmark Inc. increased its holdings in shares of AMC Networks by 47,191.9% in the first quarter. Assetmark Inc. now owns 17,498 shares of the company’s stock valued at $905,000 after buying an additional 17,461 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of AMC Networks in the first quarter valued at $921,000. 89.15% of the stock is currently owned by institutional investors.
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.
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