JPMorgan Chase & Co. Issues Pessimistic Forecast for AMC Networks (NASDAQ:AMCX) Stock Price

AMC Networks (NASDAQ:AMCX - Get Free Report) had its price objective lowered by analysts at JPMorgan Chase & Co. from $9.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 3.76% from the stock's previous close.

Several other analysts have also commented on the company. Seaport Res Ptn raised AMC Networks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. StockNews.com lowered AMC Networks from a "buy" rating to a "hold" rating in a report on Monday. Finally, Morgan Stanley dropped their price objective on AMC Networks from $10.00 to $9.00 and set an "underweight" rating on the stock 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.00.

AMC Networks Stock Performance

AMC Networks stock traded down $0.31 during midday trading on Tuesday, hitting $7.71. 522,493 shares of the company were exchanged, compared to its average volume of 476,038. The firm has a market capitalization of $340.17 million, a PE ratio of -1.47 and a beta of 1.31. AMC Networks has a fifty-two week low of $7.08 and a fifty-two week high of $18.58. The business has a fifty day simple moving average of $9.37 and a two-hundred day simple moving average of $9.10. 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 (NASDAQ:AMCX - Get Free Report) last posted 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 company 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% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. On average, sell-side analysts forecast that AMC Networks will post 2.97 earnings per share for the current year.

Hedge Funds Weigh In On AMC Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PharVision Advisers LLC purchased a new position in shares of AMC Networks in the fourth quarter valued at approximately $538,000. Two Sigma Advisers LP lifted its position in shares of AMC Networks by 93.8% in the fourth quarter. Two Sigma Advisers LP now owns 199,400 shares of the company's stock valued at $1,974,000 after acquiring an additional 96,500 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of AMC Networks by 18.8% in the fourth quarter. Two Sigma Investments LP now owns 569,523 shares of the company's stock valued at $5,638,000 after acquiring an additional 90,169 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of AMC Networks in the fourth quarter valued at approximately $779,000. Finally, Quantinno Capital Management LP lifted its position in shares of AMC Networks by 20.7% in the fourth quarter. Quantinno Capital Management LP now owns 12,255 shares of the company's stock valued at $121,000 after acquiring an additional 2,102 shares in the last quarter. 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.