AMC Networks (NASDAQ:AMCX) Price Target Cut to $8.00 by Analysts at JPMorgan Chase & Co.

AMC Networks (NASDAQ:AMCX) had its price target trimmed by JPMorgan Chase & Co. from $9.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities analysts also recently commented on AMCX. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday. Seaport Res Ptn upgraded shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley decreased their price objective on AMC Networks from $10.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AMC Networks has a consensus rating of “Hold” and an average target price of $8.00.

AMC Networks Trading Down 5.5 %

Shares of AMCX opened at $8.04 on Tuesday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.32 and a current ratio of 2.38. AMC Networks has a 52-week low of $7.08 and a 52-week high of $18.58. The firm has a market cap of $354.50 million, a price-to-earnings ratio of -1.53 and a beta of 1.31. The business’s fifty day moving average is $9.41 and its 200-day moving average is $9.11.

AMC Networks (NASDAQ:AMCX) last issued its earnings results on Friday, February 14th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.41). The business had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. Equities analysts anticipate that AMC Networks will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in AMC Networks by 45.7% in the fourth quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after purchasing an additional 1,097 shares in the last quarter. nVerses Capital LLC bought a new position in AMC Networks in the third quarter worth approximately $55,000. R Squared Ltd bought a new position in AMC Networks in the fourth quarter worth approximately $59,000. Federated Hermes Inc. increased its holdings in shares of AMC Networks by 31.3% during the fourth quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after acquiring an additional 1,918 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of AMC Networks during the third quarter worth approximately $88,000. Institutional investors own 78.51% of the company’s stock.

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.