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

AMC Networks (NASDAQ:AMCX) had its target price reduced by Morgan Stanley from $10.00 to $9.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research firms also recently weighed in on AMCX. Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of AMC Networks from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AMC Networks presently has an average rating of “Hold” and an average price target of $8.50.

AMC Networks Stock Performance

Shares of AMCX opened at $9.25 on Tuesday. The company has a 50-day simple moving average of $8.28 and a two-hundred day simple moving average of $10.72. The company has a debt-to-equity ratio of 2.03, a current ratio of 2.32 and a quick ratio of 2.13. The firm has a market capitalization of $407.91 million, a PE ratio of 14.68 and a beta of 1.29. AMC Networks has a one year low of $7.08 and a one year high of $20.97.

AMC Networks (NASDAQ:AMCX) last released its earnings results on Friday, November 8th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.29. The company had revenue of $599.60 million during 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 revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS. On average, analysts anticipate that AMC Networks will post 4.2 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Networks

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of AMC Networks by 18.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,625,630 shares of the company’s stock worth $15,703,000 after buying an additional 250,738 shares in the last quarter. American Century Companies Inc. raised its holdings in AMC Networks by 6.8% in the 2nd quarter. American Century Companies Inc. now owns 707,708 shares of the company’s stock worth $6,836,000 after acquiring an additional 45,266 shares during the last quarter. Barclays PLC lifted its position in AMC Networks by 8.5% in the 3rd quarter. Barclays PLC now owns 554,837 shares of the company’s stock valued at $4,821,000 after acquiring an additional 43,623 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in AMC Networks by 40.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 534,543 shares of the company’s stock valued at $5,164,000 after purchasing an additional 154,927 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in AMC Networks during the 2nd quarter valued at $4,456,000. 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.