Morgan Stanley Has Lowered Expectations for AMC Networks (NASDAQ:AMCX) Stock Price

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

A number of other research analysts have also weighed in on AMCX. StockNews.com lowered shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. JPMorgan Chase & Co. cut their target price on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.00.

AMC Networks Stock Down 3.9 %

AMCX stock opened at $7.71 on Thursday. 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 1 year low of $7.08 and a 1 year high of $18.58. The company has a fifty day simple moving average of $9.37 and a 200 day simple moving average of $9.09. The firm has a market cap of $340.32 million, a PE ratio of -1.47 and a beta of 1.31.

AMC Networks (NASDAQ:AMCX) last released its quarterly earnings data 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). AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. The business had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. During the same period in the previous year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. Sell-side analysts anticipate that AMC Networks will post 2.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About AMC Networks

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.