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

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

AMCX has been the topic of several other reports. JPMorgan Chase & Co. lowered their price objective 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, February 18th. StockNews.com cut shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

AMC Networks Price Performance

Shares of NASDAQ:AMCX opened at $7.71 on Thursday. The stock has a market cap of $340.32 million, a price-to-earnings ratio of -1.47 and a beta of 1.31. 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 price is $9.37 and its 200 day moving average price is $9.09. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.38 and a quick ratio of 2.32.

AMC Networks (NASDAQ:AMCX) last posted 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 company 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%. AMC Networks’s quarterly revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. Equities research analysts anticipate that AMC Networks will post 2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of AMC Networks by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,715,833 shares of the company’s stock valued at $16,987,000 after acquiring an additional 39,581 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock valued at $16,066,000 after acquiring an additional 1,248,571 shares in the last quarter. RWWM Inc. grew its holdings in shares of AMC Networks by 20.6% during the 4th quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock valued at $15,411,000 after acquiring an additional 266,322 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of AMC Networks by 22.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock valued at $14,505,000 after acquiring an additional 267,044 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of AMC Networks by 3.4% during the 4th quarter. American Century Companies Inc. now owns 824,096 shares of the company’s stock valued at $8,159,000 after acquiring an additional 27,273 shares in the last quarter. 78.51% of the stock is currently owned by hedge funds and other 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.