Analysts Set AMC Networks Inc. (NASDAQ:AMCX) PT at $5.38

Key Points

• AMC Networks Inc. has received a consensus rating of "Reduce" from analysts, with four analysts recommending a sell and one a strong buy.
• The company's recent earnings report showed a loss of $0.21 per share compared to expectations, with revenue declining 6.9% year-over-year.
• Wells Fargo & Company significantly lowered its price target for AMC Networks from $8.00 to $4.00 as part of an overall trend of decreasing price targets by major firms.

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

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

Institutional Trading of AMC Networks

A number of hedge funds have recently made changes to their positions in AMCX. JPMorgan Chase & Co. boosted its position in shares of AMC Networks by 333.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,622,785 shares of the company's stock worth $16,066,000 after purchasing an additional 1,248,571 shares in the last quarter. RWWM Inc. boosted its position in shares of AMC Networks by 74.3% in the 1st quarter. RWWM Inc. now owns 2,712,921 shares of the company's stock worth $18,665,000 after purchasing an additional 1,156,267 shares in the last quarter. Readystate Asset Management LP boosted its position in shares of AMC Networks by 352.5% in the 1st quarter. Readystate Asset Management LP now owns 405,383 shares of the company's stock worth $2,789,000 after purchasing an additional 315,787 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of AMC Networks by 941.3% in the 1st quarter. Acadian Asset Management LLC now owns 332,994 shares of the company's stock worth $2,290,000 after purchasing an additional 301,016 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of AMC Networks by 2,483.1% in the 4th quarter. Janus Henderson Group PLC now owns 309,090 shares of the company's stock worth $3,060,000 after purchasing an additional 297,124 shares in the last quarter. 78.51% of the stock is owned by institutional investors.

AMC Networks Price Performance

NASDAQ:AMCX traded down $0.38 during trading hours on Tuesday, hitting $5.62. 177,220 shares of the company's stock traded hands, compared to its average volume of 541,960. The firm has a market cap of $252.28 million, a P/E ratio of -0.95 and a beta of 1.36. AMC Networks has a 52 week low of $5.41 and a 52 week high of $10.72. The business's fifty day simple moving average is $6.27 and its two-hundred day simple moving average is $7.01. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 2.42.

AMC Networks (NASDAQ:AMCX - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.21). AMC Networks had a positive return on equity of 17.26% and a negative net margin of 10.68%. The firm had revenue of $555.23 million for the quarter, compared to the consensus estimate of $567.23 million. During the same period last year, the firm earned $1.16 EPS. The company's revenue for the quarter was down 6.9% on a year-over-year basis. On average, research analysts anticipate that AMC Networks will post 2.62 earnings per share for the current fiscal year.

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.