Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) PT at $8.00

Shares of AMC Networks Inc. (NASDAQ:AMCX) have received an average recommendation of “Reduce” from the four ratings firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $8.00.

Several brokerages recently weighed in on AMCX. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. JPMorgan Chase & Co. reduced their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley reduced their price target on shares of AMC Networks from $9.00 to $8.00 and set an “underweight” rating for the company in a research report on Thursday, February 20th.

AMC Networks Price Performance

Shares of NASDAQ AMCX opened at $7.06 on Friday. AMC Networks has a fifty-two week low of $6.65 and a fifty-two week high of $18.58. The company has a 50 day simple moving average of $8.96 and a two-hundred day simple moving average of $8.93. The company has a market capitalization of $311.60 million, a price-to-earnings ratio of -1.34 and a beta of 1.33. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.38 and a current ratio of 2.38.

AMC Networks (NASDAQ:AMCX) last announced its quarterly earnings results on Friday, February 14th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.41). The firm had revenue of $599.30 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned $0.72 EPS. Analysts expect that AMC Networks will post 2.62 EPS for the current fiscal year.

Institutional Investors Weigh In On AMC Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMCX. Harbor Capital Advisors Inc. boosted its holdings in AMC Networks by 130.3% in the third quarter. Harbor Capital Advisors Inc. now owns 24,814 shares of the company’s stock worth $216,000 after purchasing an additional 14,038 shares during the last quarter. Atria Investments Inc purchased a new stake in AMC Networks in the third quarter worth approximately $141,000. Entropy Technologies LP boosted its holdings in AMC Networks by 24.2% in the third quarter. Entropy Technologies LP now owns 14,381 shares of the company’s stock worth $125,000 after purchasing an additional 2,800 shares during the last quarter. Verus Capital Partners LLC purchased a new stake in AMC Networks in the third quarter worth approximately $174,000. Finally, Aigen Investment Management LP purchased a new stake in AMC Networks in the third quarter worth approximately $117,000. 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.