Morgan Stanley Has Lowered Expectations for AMC Networks (NASDAQ:AMCX) Stock Price

AMC Networks (NASDAQ:AMCX) had its price objective reduced by equities research analysts at Morgan Stanley from $9.00 to $8.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 2.74% from the stock’s previous close.

AMCX has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday. StockNews.com downgraded AMC Networks from a “buy” rating to a “hold” rating in a report on Monday. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AMC Networks presently has an average rating of “Hold” and a consensus target price of $8.00.

AMC Networks Price Performance

AMCX stock traded down $0.28 during trading hours on Thursday, hitting $8.23. 179,292 shares of the stock traded hands, compared to its average volume of 452,961. The stock has a 50-day simple moving average of $9.44 and a 200 day simple moving average of $9.12. The company has a market cap of $362.89 million, a P/E ratio of -1.58 and a beta of 1.31. AMC Networks has a one year low of $7.08 and a one year high of $18.58. The company has a current ratio of 2.38, a quick ratio of 2.32 and a debt-to-equity ratio of 2.63.

AMC Networks (NASDAQ:AMCX) last issued its quarterly 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). The business had revenue of $599.30 million during the quarter, compared to analyst estimates of $611.26 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. AMC Networks’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. Equities analysts forecast that AMC Networks will post 3.09 earnings per share for the current year.

Institutional Trading of AMC Networks

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in AMC Networks by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,715,833 shares of the company’s stock valued at $16,987,000 after buying an additional 39,581 shares during the period. JPMorgan Chase & Co. grew its stake in AMC Networks by 333.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company’s stock valued at $16,066,000 after acquiring an additional 1,248,571 shares in the last quarter. RWWM Inc. increased its holdings in shares of AMC Networks by 20.6% in the 4th quarter. RWWM Inc. now owns 1,556,654 shares of the company’s stock valued at $15,411,000 after purchasing an additional 266,322 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of AMC Networks by 22.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,465,168 shares of the company’s stock worth $14,505,000 after purchasing an additional 267,044 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of AMC Networks by 3.4% during the fourth quarter. American Century Companies Inc. now owns 824,096 shares of the company’s stock worth $8,159,000 after purchasing an additional 27,273 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.