Analysts Set AMC Networks Inc. (NASDAQ:AMCX) Price Target at $8.00

AMC Networks Inc. (NASDAQ:AMCX) has earned an average recommendation of “Reduce” from the four analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.00.

AMCX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a report on Monday, February 17th. Morgan Stanley decreased their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Tuesday, February 18th.

Institutional Investors Weigh In On AMC Networks

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after purchasing an additional 1,097 shares during the last quarter. Gabelli Funds LLC raised its holdings in AMC Networks by 1.1% during the 4th quarter. Gabelli Funds LLC now owns 133,800 shares of the company’s stock valued at $1,325,000 after buying an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in AMC Networks by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 49,897 shares of the company’s stock valued at $494,000 after buying an additional 1,589 shares during the period. Rhumbline Advisers boosted its position in AMC Networks by 2.9% during the 4th quarter. Rhumbline Advisers now owns 60,346 shares of the company’s stock valued at $597,000 after buying an additional 1,680 shares during the period. Finally, Federated Hermes Inc. grew its holdings in AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after acquiring an additional 1,918 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

AMC Networks Trading Down 6.0 %

Shares of AMCX stock opened at $6.86 on Friday. The company has a market capitalization of $302.77 million, a PE ratio of -1.31 and a beta of 1.31. AMC Networks has a 52-week low of $6.80 and a 52-week high of $18.58. The business’s fifty day moving average is $9.15 and its 200 day moving average is $9.00. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings results 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 for 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 was down 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. On average, equities research analysts anticipate that AMC Networks will post 2.62 EPS for the current fiscal year.

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.