Price Action Don’t Lie: What’s Next for AMC Networks Inc After Reaching Yearly Low?

Price Action Don't Lie: What's Next for AMC Networks Inc After Reaching Yearly Low?

The stock of AMC Networks Inc (NASDAQ:AMCX) hit a new 52-week low and has $44.20 target or 8.00% below today’s $48.04 share price. The 5 months bearish chart indicates high risk for the $3.43 billion company. The 1-year low was reported on Nov, 1 by Barchart.com. If the $44.20 price target is reached, the company will be worth $274.40 million 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 413,748 shares traded hands. AMC Networks Inc (NASDAQ:AMCX) has declined 24.87% since March 30, 2016 and is downtrending. It has underperformed by 27.89% the S&P500.

Analysts await AMC Networks Inc (NASDAQ:AMCX) to report earnings on November, 3. They expect $1.03 EPS, down 5.50% or $0.06 from last year’s $1.09 per share. AMCX’s profit will be $73.54 million for 11.66 P/E if the $1.03 EPS becomes a reality. After $1.14 actual EPS 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), 9 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 50% are positive. AMC Networks has been the topic of 38 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Tuesday, September 22, the company rating was downgraded by TheStreet. The firm has “Buy” rating by Credit Agricole given on Monday, October 26. The rating was maintained by Topeka Capital Markets with “Hold” on Monday, February 22. As per Monday, August 10, the company rating was maintained by JP Morgan. The company was maintained on Wednesday, August 26 by Albert Fried. The stock has “Hold” rating given by Stifel Nicolaus on Thursday, September 15. Morgan Stanley upgraded AMC Networks Inc (NASDAQ:AMCX) rating on Monday, August 3. Morgan Stanley has “Overweight” rating and $94 price target. The rating was maintained by Jefferies with “Hold” on Friday, August 5. The stock of AMC Networks Inc (NASDAQ:AMCX) has “Overweight” rating given on Friday, August 7 by Albert Fried. As per Tuesday, April 5, the company rating was initiated by Jefferies.

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 is negative, 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.
Private Wealth Prtn Ltd Llc holds 0.32% or 22,150 shares in its portfolio. Wfg Advisors Lp last reported 0% of its portfolio in the stock. Suntrust Banks reported 6,783 shares or 0% of all its holdings. Westwood Incorporated has 533,932 shares for 0.29% of their US portfolio. Ftb Advsr Inc has invested 0% of its portfolio in AMC Networks Inc (NASDAQ:AMCX). Sentinel Lba reported 11,347 shares or 0.1% of all its holdings. Horizon Kinetics Limited last reported 22,226 shares in the company. Bokf Na has invested 0.1% of its portfolio in AMC Networks Inc (NASDAQ:AMCX). Fort Washington Inv Advisors Incorporated Oh holds 14,940 shares or 0.02% of its portfolio. Credit Suisse Ag has invested 0.01% of its portfolio in AMC Networks Inc (NASDAQ:AMCX). Jefferies Grp Inc Limited accumulated 0% or 5,411 shares. State Of Tennessee Treasury Department accumulated 10,000 shares or 0% of the stock. Credit Agricole S A last reported 0% of its portfolio in the stock. Moreover, Ig Invest Management Limited has 0% invested in AMC Networks Inc (NASDAQ:AMCX) for 1,780 shares. Da Davidson And has 0.02% invested in the company for 12,745 shares.

More recent AMC Networks Inc (NASDAQ:AMCX) news were published by: Fool.com which released: “Earnings Preview: Can AMC Networks, Inc. Turn Things Around?” on August 02, 2016. Also Bloomberg.com published the news titled: “AMC Networks Invests $65 Million in RLJ Entertainment” on October 17, 2016. Marketwatch.com‘s news article titled: “AMC Networks to invest $65 million in Britain’s RLJ Entertainment as part of …” with publication date: October 17, 2016 was also an interesting one.

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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