Amc Networks (NASDAQ:AMCX) Raised to “Peer Perform” at Wolfe Research

Wolfe Research upgraded shares of Amc Networks (NASDAQ:AMCX) from an underperform rating to a peer perform rating in a research note released on Tuesday, BenzingaRatingsTable reports.

AMCX has been the topic of a number of other reports. BidaskClub lowered Amc Networks from a sell rating to a strong sell rating in a report on Tuesday, July 23rd. Gabelli reaffirmed a buy rating on shares of Amc Networks in a report on Tuesday, June 11th. ValuEngine lowered Amc Networks from a sell rating to a strong sell rating in a report on Monday, July 22nd. Finally, Zacks Investment Research raised Amc Networks from a hold rating to a buy rating and set a $62.00 price objective on the stock in a report on Wednesday, July 3rd. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $60.20.

NASDAQ AMCX traded down $0.65 on Tuesday, reaching $52.81. The stock had a trading volume of 10,469 shares, compared to its average volume of 416,336. The company has a debt-to-equity ratio of 6.82, a quick ratio of 2.66 and a current ratio of 2.66. The stock’s fifty day moving average is $54.80. Amc Networks has a 1-year low of $51.04 and a 1-year high of $68.42. The stock has a market capitalization of $3.07 billion, a P/E ratio of 6.08, a P/E/G ratio of 0.72 and a beta of 0.85.

Amc Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.65. Amc Networks had a return on equity of 152.19% and a net margin of 14.35%. The firm had revenue of $772.30 million for the quarter, compared to analyst estimates of $783.03 million. During the same period in the prior year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts forecast that Amc Networks will post 8.59 EPS for the current fiscal year.

In other news, CFO Sean S. Sullivan sold 27,232 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $54.61, for a total transaction of $1,487,139.52. Following the sale, the chief financial officer now directly owns 40,090 shares of the company’s stock, valued at approximately $2,189,314.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James Gallagher sold 5,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $54.61, for a total value of $273,050.00. Following the sale, the executive vice president now directly owns 15,689 shares in the company, valued at $856,776.29. The disclosure for this sale can be found here. Corporate insiders own 21.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Co. of Vermont acquired a new stake in shares of Amc Networks during the 2nd quarter worth $27,000. TRUE Private Wealth Advisors acquired a new stake in shares of Amc Networks during the 2nd quarter worth $29,000. Advisors Preferred LLC acquired a new stake in shares of Amc Networks during the 1st quarter worth $74,000. Icon Wealth Partners LLC acquired a new stake in shares of Amc Networks during the 1st quarter worth $79,000. Finally, Bremer Bank National Association acquired a new stake in Amc Networks in the first quarter valued at about $92,000. 93.69% 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.

Recommended Story: What is Green Investing?

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.