Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) PT at $33.38

AMC Networks Inc. (NASDAQ:AMCXGet Rating) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $33.38.

A number of equities analysts have commented on AMCX shares. Wells Fargo & Company cut their price objective on shares of AMC Networks from $32.00 to $27.00 and set a “market underperform” rating on the stock in a report on Monday, August 8th. Morgan Stanley reduced their price target on shares of AMC Networks from $35.00 to $33.00 in a report on Monday, August 8th. Moffett Nathanson cut their price objective on shares of AMC Networks to $30.00 in a research report on Friday, July 22nd. Cowen cut their price target on AMC Networks to $36.00 in a report on Monday, August 15th. Finally, The Goldman Sachs Group reduced their price target on AMC Networks to $32.00 in a research report on Monday, August 15th.

Hedge Funds Weigh In On AMC Networks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Rhumbline Advisers lifted its stake in AMC Networks by 0.5% in the 4th quarter. Rhumbline Advisers now owns 86,048 shares of the company’s stock worth $2,963,000 after acquiring an additional 469 shares in the last quarter. DGS Capital Management LLC purchased a new position in shares of AMC Networks during the 1st quarter valued at $253,000. New York State Common Retirement Fund raised its holdings in shares of AMC Networks by 134.6% during the first quarter. New York State Common Retirement Fund now owns 49,358 shares of the company’s stock worth $2,005,000 after acquiring an additional 28,319 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in AMC Networks during the fourth quarter valued at $992,000. Finally, IndexIQ Advisors LLC grew its stake in AMC Networks by 20.1% in the first quarter. IndexIQ Advisors LLC now owns 9,539 shares of the company’s stock valued at $388,000 after purchasing an additional 1,595 shares in the last quarter. Institutional investors and hedge funds own 66.24% of the company’s stock.

AMC Networks Stock Performance

NASDAQ:AMCX opened at $23.80 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.29 and a beta of 1.05. The firm’s fifty day simple moving average is $28.48 and its 200 day simple moving average is $33.31. AMC Networks has a twelve month low of $22.70 and a twelve month high of $51.51.

AMC Networks (NASDAQ:AMCXGet Rating) last posted its earnings results on Friday, August 5th. The company reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.08. The business had revenue of $738.00 million for the quarter, compared to analyst estimates of $777.93 million. AMC Networks had a net margin of 10.29% and a return on equity of 36.11%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.45 EPS. As a group, equities research analysts expect that AMC Networks will post 8.07 earnings per share for the current fiscal year.

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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Analyst Recommendations for AMC Networks (NASDAQ:AMCX)

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