Zacks Investment Research Lowers Amc Networks (NASDAQ:AMCX) to Hold

Amc Networks (NASDAQ:AMCX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “AMC Networks Inc. is engaged in producing programming and movie content. It owns and operates various cable televisions. Its programming networks include AMC, IFC, Sundance Channel, WE tv, and IFC films. The AMC is a television network which focuses on the original programming and movie-based entertainment. IFC creates long and short-form content inspired by music, web, gaming, animation, news, and culture. The Sundance Channel is the television destination for independent-minded viewers. The WE tv is the women’s network specially devoted to the relationships during life’s defining moments. The IFC films consist of multiple brands that bring specialty films to the largest possible audience. AMC Networks Inc. is headquartered in New York, New York. “

Several other equities analysts have also recently commented on the stock. Gabelli restated a “buy” rating on shares of Amc Networks in a report on Tuesday, June 11th. BidaskClub cut shares of Amc Networks from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 23rd. ValuEngine cut shares of Amc Networks from a “sell” rating to a “strong sell” rating in a report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Amc Networks from an “underperform” rating to a “peer perform” rating in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Amc Networks presently has a consensus rating of “Hold” and an average price target of $60.20.

NASDAQ:AMCX traded down $0.31 during trading hours on Friday, hitting $53.15. 28,305 shares of the stock traded hands, compared to its average volume of 416,336. The business’s 50 day simple moving average is $54.80. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 6.82. Amc Networks has a fifty-two week low of $51.04 and a fifty-two week high of $68.42. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 6.12, a price-to-earnings-growth ratio of 0.72 and a beta of 0.85.

Amc Networks (NASDAQ:AMCX) last announced its earnings results on Wednesday, July 31st. The company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.65. Amc Networks had a net margin of 14.35% and a return on equity of 152.19%. The company had revenue of $772.30 million for the quarter, compared to the consensus estimate of $783.03 million. During the same period in the previous year, the business earned $1.93 EPS. The company’s revenue was up 1.4% on a year-over-year basis. Equities analysts anticipate that Amc Networks will post 8.59 EPS for the current fiscal year.

In other Amc Networks news, CFO Sean S. Sullivan sold 27,232 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $54.61, for a total transaction of $1,487,139.52. Following the completion of the sale, the chief financial officer now directly owns 40,090 shares in the company, valued at $2,189,314.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Gallagher sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $54.61, for a total transaction of $273,050.00. Following the sale, the executive vice president now owns 15,689 shares of the company’s stock, valued at $856,776.29. The disclosure for this sale can be found here. 21.29% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AMCX. Trust Co. of Vermont acquired a new position in shares of Amc Networks during the second quarter valued at about $27,000. TRUE Private Wealth Advisors acquired a new position in shares of Amc Networks during the second quarter valued at about $29,000. Advisors Preferred LLC acquired a new position in shares of Amc Networks during the first quarter valued at about $74,000. Icon Wealth Partners LLC acquired a new position in shares of Amc Networks during the first quarter valued at about $79,000. Finally, Bremer Bank National Association acquired a new position in shares of Amc Networks during the first quarter valued at about $92,000. 93.69% of the stock is owned by institutional investors and hedge funds.

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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