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

AMC Networks (NASDAQ:AMCX – Get Rating) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research analysts have also commented on AMCX. Guggenheim dropped their price objective on shares of AMC Networks from $44.00 to $35.00 in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of AMC Networks from $45.00 to $32.00 and set a “sell” rating for the company in a research note on Tuesday, February 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, AMC Networks presently has an average rating of “Hold” and an average price target of $37.50.

AMCX stock opened at $28.25 on Wednesday. The firm has a fifty day moving average price of $35.46 and a 200 day moving average price of $38.03. AMC Networks has a fifty-two week low of $27.36 and a fifty-two week high of $68.00. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.89 and a current ratio of 1.89. The firm has a market cap of $1.20 billion, a PE ratio of 4.59 and a beta of 0.95.

AMC Networks (NASDAQ:AMCX – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.15 by $0.39. The company had revenue of $712.16 million during the quarter, compared to analyst estimates of $760.80 million. AMC Networks had a net margin of 8.64% and a return on equity of 45.15%. AMC Networks’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.98 earnings per share. On average, equities analysts predict that AMC Networks will post 8.42 EPS for the current year.

Several large investors have recently added to or reduced their stakes in AMCX. Invesco Ltd. lifted its position in shares of AMC Networks by 280.9% during the first quarter. Invesco Ltd. now owns 1,377,018 shares of the company’s stock worth $55,948,000 after purchasing an additional 1,015,493 shares during the last quarter. BlackRock Inc. raised its holdings in shares of AMC Networks by 15.5% in the fourth quarter. BlackRock Inc. now owns 5,219,078 shares of the company’s stock valued at $179,746,000 after acquiring an additional 701,258 shares in the last quarter. Norges Bank bought a new stake in shares of AMC Networks in the fourth quarter valued at about $9,380,000. Morgan Stanley raised its holdings in shares of AMC Networks by 54.4% in the second quarter. Morgan Stanley now owns 305,135 shares of the company’s stock valued at $20,383,000 after acquiring an additional 107,465 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in shares of AMC Networks in the fourth quarter valued at about $3,473,000. Institutional investors and hedge funds own 78.02% of the company’s stock.

About AMC Networks (Get Rating)

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in two segments, Domestic Operations, and International and Other.

Further Reading

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