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

AMC Networks (NASDAQ:AMCX) had its price target trimmed by Morgan Stanley from $10.00 to $9.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company lowered their price objective on AMC Networks from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Seaport Res Ptn raised AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.50.

AMC Networks Stock Performance

Shares of AMCX stock opened at $9.52 on Tuesday. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.13. AMC Networks has a fifty-two week low of $7.08 and a fifty-two week high of $20.97. The stock’s 50-day moving average is $8.28 and its two-hundred day moving average is $10.73. The firm has a market cap of $419.83 million, a P/E ratio of 15.11 and a beta of 1.29.

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

Institutional Trading of AMC Networks

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

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.