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

AMC Networks (NASDAQ:AMCX) had its price target decreased by research analysts at Morgan Stanley from $10.00 to $9.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 2.97% from the stock’s previous close.

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

AMC Networks Stock Performance

Shares of AMC Networks stock opened at $8.74 on Tuesday. The firm has a 50 day simple moving average of $8.30 and a 200 day simple moving average of $10.76. AMC Networks has a fifty-two week low of $7.08 and a fifty-two week high of $20.97. The company has a debt-to-equity ratio of 2.17, a current ratio of 2.13 and a quick ratio of 2.13. The firm has a market cap of $385.43 million, a P/E ratio of 13.87 and a beta of 1.29.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.62 by $0.29. AMC Networks had a return on equity of 20.47% and a net margin of 2.29%. The company had revenue of $599.60 million during the quarter, compared to analysts’ expectations of $587.12 million. During the same period last year, the firm earned $1.85 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Sell-side analysts predict that AMC Networks will post 4.5 earnings per share for the current fiscal year.

Institutional Trading of AMC Networks

Hedge funds have recently modified their holdings of the company. Quarry LP grew its holdings in AMC Networks by 119.2% during the second quarter. Quarry LP now owns 4,295 shares of the company’s stock valued at $41,000 after purchasing an additional 2,336 shares during the period. Innealta Capital LLC bought a new position in shares of AMC Networks during the second quarter worth $48,000. nVerses Capital LLC bought a new stake in shares of AMC Networks in the 3rd quarter valued at $55,000. EntryPoint Capital LLC acquired a new stake in AMC Networks during the 1st quarter worth $60,000. Finally, EMC Capital Management lifted its holdings in AMC Networks by 23.8% during the first quarter. EMC Capital Management now owns 7,792 shares of the company’s stock worth $95,000 after acquiring an additional 1,500 shares in the last quarter. 78.51% of the stock is currently owned by institutional investors and hedge funds.

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.