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

AMC Networks (NASDAQ:AMCX) had its target price dropped by research analysts at JPMorgan Chase & Co. from $9.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 4.88% from the company’s previous close.

AMCX has been the topic of several other research reports. Morgan Stanley decreased their price target on AMC Networks from $10.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, November 12th. Seaport Res Ptn raised shares of AMC Networks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research note on Monday. Three investment 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 company’s stock. According to data from MarketBeat, AMC Networks has an average rating of “Hold” and an average target price of $8.33.

AMC Networks Price Performance

NASDAQ:AMCX traded down $0.38 during mid-day trading on Tuesday, reaching $8.41. 149,253 shares of the company were exchanged, compared to its average volume of 420,500. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.03. The stock has a market cap of $371.05 million, a PE ratio of 13.33 and a beta of 1.31. AMC Networks has a 12 month low of $7.08 and a 12 month high of $18.58. The company has a fifty day moving average of $9.49 and a 200 day moving average of $9.14.

AMC Networks (NASDAQ:AMCX) last released its quarterly 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). AMC Networks had a net margin of 1.45% and a return on equity of 17.41%. The company had revenue of $599.30 million for the quarter, compared to the consensus estimate of $611.26 million. During the same period last year, the company earned $0.72 earnings per share. AMC Networks’s revenue for the quarter was down 11.7% compared to the same quarter last year. On average, research analysts anticipate that AMC Networks will post 4.09 EPS for the current fiscal year.

Institutional Trading of AMC Networks

Institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its stake in AMC Networks by 45.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock worth $35,000 after acquiring an additional 1,097 shares during the last quarter. nVerses Capital LLC bought a new position in shares of AMC Networks during the third quarter worth $55,000. R Squared Ltd acquired a new position in shares of AMC Networks in the 4th quarter valued at $59,000. Federated Hermes Inc. increased its position in shares of AMC Networks by 31.3% in the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock valued at $80,000 after buying an additional 1,918 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in AMC Networks during the 3rd quarter worth $88,000. 78.51% of the stock is owned by institutional investors.

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.