Market Overview

Can 'The Walking Dead' Continue To Bring AMC's Ratings To Life?

Share:
Can 'The Walking Dead' Continue To Bring AMC's Ratings To Life?

David Miller of Loop Capital believes AMC Networks Inc (NASDAQ: AMCX) should need a third "owned" hit similar to "The Walking Dead" series to revive its stock.

The comments come as AMC investors are concerned over the dramatic decline in "The Walking Dead" live ratings thus far in Season 7. According to a Bloomberg report, ratings for the TV station's long-running zombie show "The Walking Dead" is now 11 percent lower in the key demographic of young viewers, although it is still holds the title of the most watched TV series among the demographic.

The poor ratings also hit AMC stock, which has fallen 15 percent over the past year versus a 22 percent gain in the S&P 500 Index.

Miller, who has a Hold rating on the stock, said AMC needs another hit on par with "The Walking Dead," "WestWorld" or "Game of Thrones."

Related Link: Back, Back, Back... How Can ESPN Buck The Downward Trend?

Though Miller acknowledges Better Call Saul is certainly a hit, that series is owned by Sony Corp (ADR)(NYSE: SNE).

“Yes, AMCX currently owns original series 'Turn,' 'Humans,' and 'Into the Badlands,' but those three series, while garnering much critical acclaim, have proven to be too 'culty,' and have not proven to be catalysts for the stock,” Miller wrote in a note.

Meanwhile, AMC’s fourth-quarter adjusted EPS was $1.30 versus consensus of $1.28. Quarterly revenues came in at $729.6 million, beating Street view of at $712 million, driven by strong growth in domestic affiliate fees.

At last check, shares of AMC were up 0.87 percent to $60.36. Miller raised his price target by $2 to $56.

Latest Ratings for AMCX

DateFirmActionFromTo
Nov 2020Morgan StanleyMaintainsEqual-Weight
Oct 2020JP MorganDowngradesNeutralUnderweight
Jul 2020Goldman SachsInitiates Coverage OnSell

View More Analyst Ratings for AMCX
View the Latest Analyst Ratings

 

Related Articles (SNE + AMCX)

View Comments and Join the Discussion!

Posted-In: BloombergAnalyst Color News Price Target Reiteration Analyst Ratings Tech Media Best of Benzinga

Latest Ratings

StockFirmActionPT
STZUBSMaintains238.0
ZMRBC CapitalMaintains550.0
ZMStifelMaintains450.0
ZMJP MorganMaintains450.0
DISUBSMaintains155.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com