AMC Networks (NASDAQ:AMCX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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 analysts also recently issued reports on the company. Cowen reissued a “hold” rating and set a $53.00 price objective on shares of AMC Networks in a research report on Thursday, September 21st. Wells Fargo & Co assumed coverage on AMC Networks in a research report on Tuesday, October 10th. They set an “outperform” rating and a $72.00 price objective for the company. Guggenheim downgraded AMC Networks from a “buy” rating to a “neutral” rating in a research report on Thursday, October 12th. Loop Capital cut their price objective on AMC Networks from $61.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday, October 19th. Finally, Morgan Stanley cut their price objective on AMC Networks from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $61.42.

Shares of AMC Networks (AMCX) traded up $1.38 during mid-day trading on Friday, reaching $52.74. The company’s stock had a trading volume of 1,025,100 shares, compared to its average volume of 785,433. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 37.53. The stock has a market cap of $3,330.00, a price-to-earnings ratio of 10.40, a P/E/G ratio of 0.97 and a beta of 1.10. AMC Networks has a 12 month low of $46.89 and a 12 month high of $67.61.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.15 by $0.53. AMC Networks had a return on equity of 948.45% and a net margin of 12.12%. The business had revenue of $648.00 million for the quarter, compared to analyst estimates of $660.79 million. During the same quarter in the previous year, the firm earned $1.11 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. equities research analysts predict that AMC Networks will post 7.01 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMCX. Schwab Charles Investment Management Inc. grew its position in shares of AMC Networks by 19.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 306,966 shares of the company’s stock worth $16,396,000 after buying an additional 49,899 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of AMC Networks by 1.9% during the second quarter. Neuberger Berman Group LLC now owns 11,537 shares of the company’s stock worth $616,000 after buying an additional 219 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AMC Networks by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the company’s stock worth $116,000 after buying an additional 181 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of AMC Networks by 2.1% during the second quarter. Principal Financial Group Inc. now owns 236,847 shares of the company’s stock worth $12,650,000 after buying an additional 4,831 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of AMC Networks by 0.8% during the second quarter. Wells Fargo & Company MN now owns 332,475 shares of the company’s stock worth $17,758,000 after buying an additional 2,735 shares in the last quarter. 86.88% of the stock is owned by institutional investors.

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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.

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