AMC Networks (AMCX) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of AMC Networks (NASDAQ:AMCX) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $61.00 target price on the stock.

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. “

A number of other research analysts have also weighed in on AMCX. Jefferies Group restated a hold rating and set a $65.00 price objective on shares of AMC Networks in a research report on Tuesday, September 12th. Sanford C. Bernstein reiterated a market perform rating on shares of AMC Networks in a research report on Tuesday, September 12th. Cowen reiterated a hold rating and issued a $53.00 price target on shares of AMC Networks in a research report on Thursday, September 21st. Wells Fargo & Co began coverage on AMC Networks in a research report on Tuesday, October 10th. They issued an outperform rating and a $72.00 price target for the company. Finally, Guggenheim lowered AMC Networks from a buy rating to a neutral rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $61.42.

Shares of AMC Networks (NASDAQ AMCX) traded down $0.13 during trading on Tuesday, hitting $51.57. The stock had a trading volume of 741,800 shares, compared to its average volume of 876,933. The stock has a market capitalization of $3,180.00, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 37.53. AMC Networks has a 52-week low of $46.89 and a 52-week high of $67.61.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.53. The firm had revenue of $648.00 million during the quarter, compared to analyst estimates of $660.79 million. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. sell-side analysts forecast that AMC Networks will post 7.01 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of AMCX. Investec Asset Management LTD raised its stake in AMC Networks by 45.0% in the third quarter. Investec Asset Management LTD now owns 1,799,372 shares of the company’s stock worth $105,209,000 after buying an additional 558,579 shares in the last quarter. FMR LLC grew its holdings in AMC Networks by 9.9% in the second quarter. FMR LLC now owns 1,172,084 shares of the company’s stock worth $62,601,000 after purchasing an additional 105,290 shares during the last quarter. AJO LP grew its holdings in AMC Networks by 121.4% in the second quarter. AJO LP now owns 996,174 shares of the company’s stock worth $53,206,000 after purchasing an additional 546,211 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in AMC Networks by 7.3% in the third quarter. Bank of New York Mellon Corp now owns 778,748 shares of the company’s stock worth $45,533,000 after purchasing an additional 53,278 shares during the last quarter. Finally, LSV Asset Management grew its holdings in AMC Networks by 284.0% in the second quarter. LSV Asset Management now owns 721,131 shares of the company’s stock worth $38,515,000 after purchasing an additional 533,360 shares during the last quarter. 86.83% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “AMC Networks (AMCX) Lifted to “Buy” at Zacks Investment Research” was posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.chaffeybreeze.com/2018/01/05/amc-networks-amcx-lifted-to-buy-at-zacks-investment-research.html.

AMC Networks Company Profile

AMC Networks Inc is a holding company, which conducts all of its operations through its subsidiaries. The Company owns and operates entertainment businesses and assets. It operates through two segments: National Networks, and International and Other. National Networks includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada.

Get a free copy of the Zacks research report on AMC Networks (AMCX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Latest News

Leave a Reply