The stock of AMC Networks Inc (NASDAQ:AMCX) hit a new 52-week low and has $44.79 target or 8.00% below today’s $48.69 share price. The 6 months bearish chart indicates high risk for the $3.48B company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $44.79 price target is reached, the company will be worth $278.40M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 572,471 shares traded hands. AMC Networks Inc (NASDAQ:AMCX) has declined 22.57% since March 10, 2016 and is downtrending. It has underperformed by 30.09% the S&P500.
Analysts await AMC Networks Inc (NASDAQ:AMCX) to report earnings on November, 3. They expect $1.03 earnings per share, down 5.50% or $0.06 from last year’s $1.09 per share. AMCX’s profit will be $73.62M for 11.82 P/E if the $1.03 EPS becomes a reality. After $1.14 actual earnings per share reported by AMC Networks Inc for the previous quarter, Wall Street now forecasts -9.65% negative EPS growth.
AMC Networks Inc (NASDAQ:AMCX) Ratings Coverage
Out of 18 analysts covering AMC Networks (NASDAQ:AMCX), 10 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 56% are positive. $97 is the highest target while $57 is the lowest. The $75.41 average target is 54.88% above today’s ($48.69) stock price. AMC Networks has been the topic of 37 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Goldman Sachs on Friday, August 5. The stock of AMC Networks Inc (NASDAQ:AMCX) earned “Hold” rating by Jefferies on Tuesday, April 5. The firm has “Outperform” rating given on Tuesday, April 26 by Macquarie Research. The firm earned “Buy” rating on Tuesday, October 11 by Guggenheim. Topeka Capital Markets maintained the stock with “Hold” rating in Thursday, September 3 report. The company was upgraded on Monday, October 26 by CLSA. The stock of AMC Networks Inc (NASDAQ:AMCX) earned “Buy” rating by Evercore on Thursday, September 24. The firm has “Overweight” rating by Pacific Crest given on Sunday, August 9. Topeka Capital Markets maintained AMC Networks Inc (NASDAQ:AMCX) on Thursday, November 12 with “Hold” rating. The firm has “Buy” rating by Credit Agricole given on Monday, October 26.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.01 in 2016 Q2. Its down 0.26, from 1.27 in 2016Q1. The ratio worsened, as 49 funds sold all AMC Networks Inc shares owned while 90 reduced positions. 32 funds bought stakes while 109 increased positions. They now own 58.79 million shares or 5.50% less from 62.21 million shares in 2016Q1.
Creative Planning holds 0% of its portfolio in AMC Networks Inc (NASDAQ:AMCX) for 9,893 shares. Hall Laurie J Trustee accumulated 0.01% or 240 shares. Washington Tru Bancorp last reported 30 shares in the company. Nordea Invest Management Ab owns 133,465 shares or 0.02% of their US portfolio. The Switzerland-based Swiss Bancorp has invested 0.01% in AMC Networks Inc (NASDAQ:AMCX). M&T Comml Bank Corp last reported 0% of its portfolio in the stock. Hutchin Hill Lp last reported 0.03% of its portfolio in the stock. Clearbridge Invests Ltd Co holds 8.49 million shares or 0.61% of its portfolio. Redwood Investments Ltd Llc accumulated 0% or 501 shares. Us Commercial Bank De has 0% invested in the company for 6,280 shares. The Pennsylvania-based Clark Cap Management Grp has invested 0.3% in AMC Networks Inc (NASDAQ:AMCX). The Illinois-based Ubs Asset Mngmt Americas has invested 0% in AMC Networks Inc (NASDAQ:AMCX). Yorktown Mgmt And Rech has invested 0.07% of its portfolio in AMC Networks Inc (NASDAQ:AMCX). Oregon Public Employees Retirement Fund has invested 0.03% of its portfolio in AMC Networks Inc (NASDAQ:AMCX). Wfg Advisors Ltd Partnership accumulated 0% or 24 shares.
More news for AMC Networks Inc (NASDAQ:AMCX) were recently published by: Fool.com, which released: “Earnings Preview: Can AMC Networks, Inc. Turn Things Around?” on August 02, 2016. Blogs.Wsj.com‘s article titled: “CFO Moves: Destination Maternity Corp., AMC Networks Inc.” and published on August 01, 2016 is yet another important article.
AMCX Company Profile
AMC Networks Inc., incorporated on March 9, 2011, is a holding company, which conducts all of its activities through its subsidiaries. The Firm owns and operates entertainment businesses and assets. The Firm operates through two divisions: National Networks, and International and Other. The National Networks segment principally includes activities of its programming businesses, which include its programming networks distributed in the United States and Canada. The International and Other segment principally includes AMC Networks International (AMCNI), the Company’s international programming businesses consisting of a portfolio of channels in Europe, Latin America, the Middle East and parts of Asia and Africa; IFC Films, the Company’s independent film distribution business; AMCNI- DMC, the broadcast solutions unit of certain networks of AMCNI and third-party networks, and various developing online content distribution initiatives.
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