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

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

A number of other equities analysts have also commented on the stock. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price 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 research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.00.

AMC Networks Price Performance

AMC Networks stock opened at $8.04 on Thursday. 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 company has a current ratio of 2.38, a quick ratio of 2.32 and a debt-to-equity ratio of 2.63. AMC Networks has a 12 month low of $7.08 and a 12 month high of $18.58. The stock’s 50 day moving average is $9.41 and its 200-day moving average is $9.11.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. PharVision Advisers LLC bought a new stake in AMC Networks during the fourth quarter worth about $538,000. Two Sigma Advisers LP raised its position in shares of AMC Networks by 93.8% in the 4th quarter. Two Sigma Advisers LP now owns 199,400 shares of the company’s stock valued at $1,974,000 after buying an additional 96,500 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of AMC Networks by 18.8% during the 4th quarter. Two Sigma Investments LP now owns 569,523 shares of the company’s stock worth $5,638,000 after acquiring an additional 90,169 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of AMC Networks during the 4th quarter worth approximately $779,000. Finally, Quantinno Capital Management LP increased its stake in AMC Networks by 20.7% in the fourth quarter. Quantinno Capital Management LP now owns 12,255 shares of the company’s stock valued at $121,000 after acquiring an additional 2,102 shares during the last quarter. Institutional investors 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.