Morgan Stanley Issues Pessimistic Forecast for AMC Networks (NASDAQ:AMCX) Stock Price

AMC Networks (NASDAQ:AMCX) had its price target lowered by Morgan Stanley from $9.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 3.76% from the stock’s current price.

AMCX has been the topic of a number of other reports. StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday, February 17th. JPMorgan Chase & Co. decreased their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AMC Networks presently has a consensus rating of “Hold” and an average price target of $8.00.

AMC Networks Stock Down 3.9 %

Shares of NASDAQ:AMCX opened at $7.71 on Thursday. The company has a market capitalization of $340.17 million, a price-to-earnings ratio of -1.47 and a beta of 1.31. 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 business’s 50-day moving average is $9.37 and its 200-day moving average is $9.10. 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 quarterly earnings data 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). The business had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities research analysts predict that AMC Networks will post 2.97 earnings per share for the current year.

Institutional Trading of AMC Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP increased its position in AMC Networks by 134.0% in the 3rd quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock valued at $1,267,000 after buying an additional 83,476 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in AMC Networks by 163.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock worth $778,000 after purchasing an additional 55,565 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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 in the last quarter. MML Investors Services LLC bought a new stake in AMC Networks during the 3rd quarter worth approximately $91,000. Finally, Atria Investments Inc bought a new stake in AMC Networks during the 3rd quarter worth approximately $141,000. 78.51% of the stock is owned by institutional investors.

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.