AMC Networks (NASDAQ:AMCX) Price Target Lowered to $8.00 at Morgan Stanley

AMC Networks (NASDAQ:AMCX) had its target price trimmed by Morgan Stanley from $9.00 to $8.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

AMCX has been the subject of several other research reports. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. cut their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.00.

AMC Networks Stock Performance

AMCX opened at $8.04 on Thursday. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.32. The company has a market capitalization of $354.50 million, a price-to-earnings ratio of -1.53 and a beta of 1.31. The business’s 50-day moving average price is $9.41 and its two-hundred day moving average price is $9.11. AMC Networks has a 1 year low of $7.08 and a 1 year high of $18.58.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, February 14th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The firm had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. During the same period in the prior year, the business posted $0.72 EPS. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts expect that AMC Networks will post 3.09 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

Large investors have recently made changes to their positions in the stock. Royce & Associates LP increased its holdings in AMC Networks by 134.0% during the third quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock worth $1,267,000 after buying an additional 83,476 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of AMC Networks by 163.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock valued at $778,000 after acquiring an additional 55,565 shares during the period. JPMorgan Chase & Co. increased its stake in shares of AMC Networks by 73.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock worth $3,252,000 after purchasing an additional 158,162 shares during the last quarter. MML Investors Services LLC bought a new stake in shares of AMC Networks in the 3rd quarter valued at about $91,000. Finally, Atria Investments Inc bought a new stake in shares of AMC Networks in the 3rd quarter valued at about $141,000. Institutional investors and hedge funds own 78.51% of the company’s stock.

AMC Networks Company Profile

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.