AMC Networks (NASDAQ:AMCX) Lifted to “Strong-Buy” at Seaport Res Ptn

AMC Networks (NASDAQ:AMCX) was upgraded by equities research analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. Seaport Res Ptn also issued estimates for AMC Networks’ Q4 2024 earnings at $1.56 EPS and Q1 2025 earnings at $1.60 EPS.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their price target on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. StockNews.com lowered AMC Networks from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.50.

AMC Networks Stock Performance

AMCX stock opened at $7.86 on Tuesday. AMC Networks has a twelve month low of $7.08 and a twelve month high of $20.97. The firm has a market cap of $342.40 million, a price-to-earnings ratio of 2.20 and a beta of 1.28. The business’s fifty day simple moving average is $8.81 and its two-hundred day simple moving average is $11.02. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings results on Friday, August 9th. The company reported $1.24 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.02 EPS. Analysts predict that AMC Networks will post 4.86 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

Several hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its holdings in AMC Networks by 18.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock valued at $15,703,000 after buying an additional 250,738 shares during the period. American Century Companies Inc. increased its holdings in shares of AMC Networks by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock valued at $6,836,000 after acquiring an additional 45,266 shares during the period. Dana Investment Advisors Inc. raised its position in shares of AMC Networks by 40.8% in the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock worth $5,164,000 after acquiring an additional 154,927 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of AMC Networks during the 2nd quarter worth $4,456,000. Finally, Allspring Global Investments Holdings LLC boosted its position in AMC Networks by 20.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 336,754 shares of the company’s stock valued at $2,926,000 after purchasing an additional 57,952 shares in the last quarter. 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.