JPMorgan Chase & Co. Cuts AMC Networks (NASDAQ:AMCX) Price Target to $8.00

AMC Networks (NASDAQ:AMCX) had its price objective cut by JPMorgan Chase & Co. from $9.00 to $8.00 in a research report released on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday. Seaport Res Ptn upgraded AMC Networks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley lowered their target price on shares of AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AMC Networks currently has a consensus rating of “Hold” and a consensus price target of $8.00.

AMC Networks Price Performance

AMCX stock opened at $8.04 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.32 and a debt-to-equity ratio of 2.63. The stock has a market cap of $354.50 million, a PE ratio of -1.53 and a beta of 1.31. AMC Networks has a 1 year low of $7.08 and a 1 year high of $18.58. The stock has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $9.11.

AMC Networks (NASDAQ:AMCX) last released 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). AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm had revenue of $599.30 million for the quarter, compared to analyst estimates of $611.26 million. During the same period last year, the company earned $0.72 EPS. The company’s revenue was down 11.7% compared to the same quarter last year. Equities analysts forecast that AMC Networks will post 3.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMCX. Royce & Associates LP boosted its position in AMC Networks by 134.0% during the third quarter. Royce & Associates LP now owns 145,788 shares of the company’s stock worth $1,267,000 after purchasing an additional 83,476 shares during the period. BNP Paribas Financial Markets increased its position in AMC Networks by 163.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 89,474 shares of the company’s stock worth $778,000 after buying an additional 55,565 shares during the period. JPMorgan Chase & Co. grew its stake in shares of AMC Networks by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 374,214 shares of the company’s stock valued at $3,252,000 after acquiring an additional 158,162 shares in the last quarter. MML Investors Services LLC bought a new stake in AMC Networks in the 3rd quarter valued at about $91,000. Finally, Atria Investments Inc acquired a new position in shares of AMC Networks during the 3rd quarter worth approximately $141,000. 78.51% of the stock is owned by institutional investors and hedge funds.

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.