Brokerages Set AMC Networks Inc. (NASDAQ:AMCX) Target Price at $5.38

Shares of AMC Networks Inc. (NASDAQ:AMCX - Get Free Report) have been assigned a consensus rating of "Reduce" from the five research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $5.38.

A number of brokerages have recently issued reports on AMCX. UBS Group decreased their target price on AMC Networks from $8.00 to $6.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen upgraded shares of AMC Networks from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company cut their target price on shares of AMC Networks from $8.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. Morgan Stanley reduced their price target on shares of AMC Networks from $6.00 to $5.50 and set an "underweight" rating for the company in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their price objective on AMC Networks from $8.00 to $6.00 and set an "underweight" rating on the stock in a report on Monday, May 12th.

AMC Networks Stock Performance

AMCX traded down $0.47 on Monday, reaching $6.51. The stock had a trading volume of 433,006 shares, compared to its average volume of 974,321. The business's 50-day moving average price is $6.30 and its two-hundred day moving average price is $7.83. The company has a market cap of $292.47 million, a P/E ratio of -1.24 and a beta of 1.38. AMC Networks has a 12-month low of $5.41 and a 12-month high of $17.50. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 2.63.

AMC Networks (NASDAQ:AMCX - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.21). The business had revenue of $555.23 million during the quarter, compared to analysts' expectations of $567.23 million. AMC Networks had a negative net margin of 9.36% and a positive return on equity of 18.61%. AMC Networks's revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. Sell-side analysts forecast that AMC Networks will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On AMC Networks

A number of hedge funds have recently modified their holdings of AMCX. Point72 Asset Management L.P. purchased a new stake in AMC Networks during the 4th quarter valued at about $779,000. Principal Financial Group Inc. boosted its holdings in shares of AMC Networks by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 23,102 shares of the company's stock worth $229,000 after purchasing an additional 2,043 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of AMC Networks in the fourth quarter valued at approximately $414,000. Arrowstreet Capital Limited Partnership acquired a new position in AMC Networks during the fourth quarter worth $631,000. Finally, Contrarius Group Holdings Ltd acquired a new position in AMC Networks during the fourth quarter worth $5,359,000. 78.51% of the stock is currently 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.