AMC Networks (NASDAQ:AMCX) Given New $9.00 Price Target at Morgan Stanley

AMC Networks (NASDAQ:AMCX - Free Report) had its target price lowered by Morgan Stanley from $10.00 to $9.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

Several other analysts also recently commented on the stock. Wells Fargo & Company cut their price objective on shares of AMC Networks from $11.00 to $8.00 and set an "underweight" rating on the stock in a research report on Monday, August 12th. Seaport Res Ptn upgraded AMC Networks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded AMC Networks from a "hold" rating to a "buy" rating in a research report on Monday. Two 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 company's stock. According to data from MarketBeat.com, AMC Networks has a consensus rating of "Hold" and a consensus price target of $8.50.

AMC Networks Trading Down 3.5 %

Shares of AMCX stock traded down $0.31 during trading hours on Tuesday, hitting $8.43. 1,177,052 shares of the company's stock traded hands, compared to its average volume of 1,061,501. AMC Networks has a 12 month low of $7.08 and a 12 month high of $20.97. The stock's 50 day simple moving average is $8.30 and its 200 day simple moving average is $10.76. The stock has a market cap of $371.76 million, a PE ratio of 13.87 and a beta of 1.29. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 2.17.

AMC Networks (NASDAQ:AMCX - Get Free Report) 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 company had revenue of $599.60 million for the quarter, compared to analyst estimates of $587.12 million. AMC Networks had a net margin of 2.29% and a return on equity of 20.47%. The company's quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.85 earnings per share. On average, sell-side analysts anticipate that AMC Networks will post 4.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMCX. BNP Paribas Financial Markets boosted its holdings in shares of AMC Networks by 81.0% during the first quarter. BNP Paribas Financial Markets now owns 15,441 shares of the company's stock worth $187,000 after acquiring an additional 6,911 shares during the period. Empowered Funds LLC bought a new position in AMC Networks in the 1st quarter valued at $1,877,000. Swiss National Bank raised its position in AMC Networks by 6.1% in the 1st quarter. Swiss National Bank now owns 57,000 shares of the company's stock worth $691,000 after purchasing an additional 3,300 shares during the period. EntryPoint Capital LLC purchased a new position in shares of AMC Networks in the first quarter valued at about $60,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in AMC Networks by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 42,811 shares of the company's stock worth $520,000 after acquiring an additional 1,434 shares in the last quarter. 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.