Morgan Stanley Issues Pessimistic Forecast for AMC Networks (NASDAQ:AMCX) Stock Price

AMC Networks (NASDAQ:AMCX) had its target price cut by analysts at Morgan Stanley from $9.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 3.76% from the stock’s previous close.

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

AMC Networks Stock Performance

Shares of AMCX opened at $7.71 on Thursday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.32 and a current ratio of 2.38. The stock has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $9.10. The firm has a market capitalization of $340.17 million, a P/E ratio of -1.47 and a beta of 1.31. AMC Networks has a 52 week low of $7.08 and a 52 week high of $18.58.

AMC Networks (NASDAQ:AMCX) last announced its earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.41). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The business had revenue of $599.30 million during the quarter, compared to analysts’ expectations of $611.26 million. During the same quarter in the previous year, the firm earned $0.72 EPS. AMC Networks’s quarterly revenue was down 11.7% on a year-over-year basis. Equities analysts forecast that AMC Networks will post 2.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake 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. R Squared Ltd purchased a new position in AMC Networks in the fourth quarter valued at approximately $59,000. Federated Hermes Inc. lifted its stake in AMC Networks by 31.3% in the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after purchasing an additional 1,918 shares during the last quarter. Quantinno Capital Management LP purchased a new position in AMC Networks in the third quarter valued at approximately $88,000. Finally, FORA Capital LLC purchased a new position in AMC Networks in the third quarter valued at approximately $89,000. Hedge funds and other institutional investors 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.