Morgan Stanley Lowers AMC Networks (NASDAQ:AMCX) Price Target to $9.00

AMC Networks (NASDAQ:AMCX) had its price target cut by research analysts at Morgan Stanley from $10.00 to $9.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 6.74% from the stock’s current price.

AMCX has been the subject of several other reports. Wells Fargo & Company reduced their target price on AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.50.

AMC Networks Stock Performance

NASDAQ:AMCX opened at $9.65 on Tuesday. The firm’s 50-day moving average is $8.27 and its 200-day moving average is $10.74. The company has a market cap of $425.57 million, a price-to-earnings ratio of 15.32 and a beta of 1.29. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.13 and a current ratio of 2.32. AMC Networks has a 52-week low of $7.08 and a 52-week high of $20.97.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.29. AMC Networks had a return on equity of 17.41% and a net margin of 1.45%. The firm had revenue of $599.60 million for the quarter, compared to analyst estimates of $587.12 million. During the same period in the previous year, the company posted $1.85 earnings per share. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. Equities research analysts anticipate that AMC Networks will post 4.24 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP boosted its position in AMC Networks by 119.2% in the second quarter. Quarry LP now owns 4,295 shares of the company’s stock valued at $41,000 after buying an additional 2,336 shares in the last quarter. Innealta Capital LLC bought a new position in AMC Networks in the 2nd quarter valued at $48,000. nVerses Capital LLC acquired a new position in AMC Networks in the third quarter worth $55,000. EntryPoint Capital LLC bought a new stake in shares of AMC Networks during the first quarter worth $60,000. Finally, EMC Capital Management increased its stake in shares of AMC Networks by 23.8% in the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock valued at $95,000 after buying an additional 1,500 shares in the last quarter. 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.