Analysts Offer Insights on Services Companies: AMC Networks (NASDAQ: AMCX) and Enernoc (NASDAQ: ENOC)

By Austin Angelo

Analysts fell to the sidelines weighing in on AMC Networks (NASDAQ: AMCX) and Enernoc (NASDAQ: ENOC) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

AMC Networks (NASDAQ: AMCX)

In a report released yesterday, Andy Hargreaves from Pacific Crest reiterated a Hold rating on AMC Networks (NASDAQ: AMCX). The company’s shares closed yesterday at $51.64, close to its 52-week low of $46.17.

Hargreaves observed:

“We remain Sector Weight. Q3 results mostly disappoint. Soft AMC ratings drove Q3 ad revenue to $189 million versus our estimate of $195 million and consensus of $205 million. Total revenue was $635 million, below our estimate of $646 million and consensus of $660 million. AOCF of $168 million missed both our and the consensus estimate of $177 million. Despite soft Q3 results, strong ad pricing and a strong return of The Walking Dead helped drive a better-than-expected outlook for Q4 and 2017. Secular pressures will likely persist. Despite the strong start for The Walking Dead season 7, competition in AMC’s core genres is likely to continue increasing.”

According to TipRanks.com, Hargreaves is a top 100 analyst with an average return of 17.5% and a 59.1% success rate. Hargreaves covers the Services sector, focusing on stocks such as Discovery Comms., MSG Networks Inc, and Scripps Networks.

Currently, the analyst consensus on AMC Networks is Hold and the average price target is $63.80, representing a 23.5% upside.

In a report issued on October 20, Loop Capital Markets also maintained a Hold rating on the stock with a $54 price target.
Enernoc (NASDAQ: ENOC)

Pacific Crest analyst Jason Celino reiterated a Hold rating on Enernoc (NASDAQ: ENOC) yesterday. The company’s shares closed yesterday at $5.80.

Celino wrote:

“Weight. We are updating our 2016 and 2017 estimates to reflects the company’s revised outlook and restructuring. We are increasing our 2017 EBITDA estimates due to annual savings from restructuring. EnerNOC is shifting its model to enterprise software revenue, but remains unprofitable and this is a multiyear process.”

According to TipRanks.com, Celino is a 1-star analyst with an average return of -7.1% and a 25.0% success rate. Celino covers the Technology sector, focusing on stocks such as Mentor Graphics, Cadence Design, and ChannelAdvisor.

Enernoc has an analyst consensus of Hold, with a price target consensus of $6.