Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) Target Price at $8.50

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received an average rating of “Hold” from the three analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.50.

Several brokerages recently weighed in on AMCX. Morgan Stanley decreased their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday, November 11th.

AMC Networks Price Performance

Shares of AMCX opened at $8.93 on Friday. AMC Networks has a fifty-two week low of $7.08 and a fifty-two week high of $19.39. The company has a market capitalization of $394.00 million, a price-to-earnings ratio of 14.17 and a beta of 1.32. The firm has a 50-day simple moving average of $9.34 and a 200-day simple moving average of $9.27. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.32 and a current ratio of 2.32.

AMC Networks (NASDAQ:AMCX) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.29. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The company had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. During the same period last year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts anticipate that AMC Networks will post 4.09 earnings per share for the current year.

Institutional Trading of AMC Networks

Institutional investors have recently modified their holdings of the business. Quarry LP raised its position in AMC Networks by 119.2% in the second quarter. Quarry LP now owns 4,295 shares of the company’s stock worth $41,000 after acquiring an additional 2,336 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of AMC Networks during the 3rd quarter worth $55,000. Quantinno Capital Management LP purchased a new position in shares of AMC Networks in the 3rd quarter valued at about $88,000. FORA Capital LLC acquired a new stake in shares of AMC Networks in the third quarter valued at about $89,000. Finally, MML Investors Services LLC purchased a new stake in AMC Networks during the third quarter worth about $91,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

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.