AMC Networks (NASDAQ:AMCX) Hits New 52-Week Low at $22.55

AMC Networks Inc. (NASDAQ:AMCXGet Rating)’s share price hit a new 52-week low on Wednesday . The company traded as low as $22.55 and last traded at $22.68, with a volume of 2580 shares. The stock had previously closed at $23.26.

Analyst Ratings Changes

A number of research firms recently issued reports on AMCX. Moffett Nathanson reduced their price objective on AMC Networks to $30.00 in a research report on Friday, July 22nd. Wells Fargo & Company lowered their price target on shares of AMC Networks from $32.00 to $27.00 and set a “market underperform” rating for the company in a research report on Monday, August 8th. The Goldman Sachs Group cut their price objective on shares of AMC Networks to $32.00 in a research report on Monday, August 15th. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Finally, Morgan Stanley cut their price target on AMC Networks from $35.00 to $33.00 in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.38.

AMC Networks Trading Down 2.5 %

The business’s 50 day moving average price is $28.07 and its two-hundred day moving average price is $33.03. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $908.12 million, a price-to-earnings ratio of 2.96 and a beta of 1.05.

AMC Networks (NASDAQ:AMCXGet Rating) last announced its earnings results on Friday, August 5th. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.98 by $0.08. The firm had revenue of $738.00 million for the quarter, compared to analysts’ expectations of $777.93 million. AMC Networks had a return on equity of 36.11% and a net margin of 10.29%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.45 earnings per share. Equities analysts forecast that AMC Networks Inc. will post 8.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Citigroup Inc. raised its holdings in shares of AMC Networks by 12.2% in the 4th quarter. Citigroup Inc. now owns 41,253 shares of the company’s stock worth $1,421,000 after purchasing an additional 4,497 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of AMC Networks during the 4th quarter valued at $992,000. Rhumbline Advisers lifted its position in shares of AMC Networks by 0.5% during the 4th quarter. Rhumbline Advisers now owns 86,048 shares of the company’s stock valued at $2,963,000 after acquiring an additional 469 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of AMC Networks by 12.5% during the 4th quarter. Schroder Investment Management Group now owns 108,804 shares of the company’s stock worth $3,747,000 after acquiring an additional 12,112 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of AMC Networks by 0.9% in the 4th quarter. Public Sector Pension Investment Board now owns 59,530 shares of the company’s stock worth $2,050,000 after acquiring an additional 530 shares during the last quarter. Institutional investors own 66.24% 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.

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