Analysts Set AMC Networks Inc. (NASDAQ:AMCX) Target Price at $11.00

AMC Networks Inc. (NASDAQ:AMCX) has received a consensus recommendation of “Reduce” from the four research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $11.00.

A number of equities analysts recently weighed in on AMCX shares. StockNews.com cut AMC Networks from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company dropped their price target on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th.

AMC Networks Trading Up 0.6 %

Shares of AMCX opened at $8.27 on Wednesday. The business’s 50-day moving average price is $9.26 and its 200 day moving average price is $11.30. The stock has a market capitalization of $360.26 million, a P/E ratio of 2.32 and a beta of 1.28. AMC Networks has a 1-year low of $7.08 and a 1-year high of $20.97. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 2.17.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, August 9th. The company reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.28). The company had revenue of $625.90 million during the quarter, compared to analysts’ expectations of $601.41 million. AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 EPS. Analysts expect that AMC Networks will post 4.86 earnings per share for the current year.

Hedge Funds Weigh In On AMC Networks

Several institutional investors and hedge funds have recently bought and sold shares of AMCX. RWWM Inc. grew its stake in AMC Networks by 193.7% during the 4th quarter. RWWM Inc. now owns 515,432 shares of the company’s stock valued at $9,682,000 after acquiring an additional 339,912 shares in the last quarter. Privium Fund Management UK Ltd lifted its holdings in shares of AMC Networks by 38.3% during the 4th quarter. Privium Fund Management UK Ltd now owns 19,982 shares of the company’s stock valued at $375,000 after buying an additional 5,531 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of AMC Networks by 2.0% during the 4th quarter. Schroder Investment Management Group now owns 1,010,729 shares of the company’s stock valued at $18,992,000 after buying an additional 19,794 shares during the last quarter. Range Financial Group LLC acquired a new stake in shares of AMC Networks during the 1st quarter valued at about $160,000. Finally, DGS Capital Management LLC acquired a new stake in shares of AMC Networks during the 1st quarter valued at about $313,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

About AMC Networks

AMC Networks Inc, an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences, a platform to distributors, and advertisers in the United States, Europe, and internationally. The company operates through Domestic Operations, and International and Other segments.