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

AMC Networks (NASDAQ:AMCX) had its price objective lowered by equities research analysts at Morgan Stanley from $10.00 to $9.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 6.74% from the company’s current price.

Several other brokerages have also recently commented on AMCX. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on shares of AMC Networks from $11.00 to $8.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Finally, StockNews.com raised AMC Networks from a “hold” rating to a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.50.

AMC Networks Stock Up 13.8 %

Shares of AMCX opened at $9.65 on Tuesday. The business’s fifty day moving average price is $8.27 and its two-hundred day moving average price is $10.74. The firm has a market capitalization of $425.57 million, a price-to-earnings ratio of 15.32 and a beta of 1.29. AMC Networks has a 52 week low of $7.08 and a 52 week high of $20.97. The company has a debt-to-equity ratio of 2.03, a quick ratio of 2.13 and a current ratio of 2.32.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMCX. BNP Paribas Financial Markets boosted 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 worth $778,000 after purchasing an additional 55,565 shares in the last quarter. DRW Securities LLC acquired a new position in AMC Networks in the third quarter valued at about $120,000. Segall Bryant & Hamill LLC raised its position in shares of AMC Networks by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 176,830 shares of the company’s stock worth $1,537,000 after purchasing an additional 3,669 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of AMC Networks by 248.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 23,409 shares of the company’s stock valued at $203,000 after purchasing an additional 16,688 shares in the last quarter. Finally, Caprock Group LLC acquired a new position in shares of AMC Networks in the 3rd quarter valued at approximately $265,000. 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.