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

AMC Networks (NASDAQ:AMCX) had its price objective cut by JPMorgan Chase & Co. from $8.00 to $6.00 in a report released on Monday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other analysts also recently commented on AMCX. UBS Group reduced their price target on shares of AMC Networks from $8.00 to $6.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. StockNews.com downgraded shares of AMC Networks from a “buy” rating to a “hold” rating in a research report on Monday, February 17th. Wells Fargo & Company reduced their price target on shares of AMC Networks from $8.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, April 17th. Finally, 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. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.38.

AMC Networks Stock Down 7.6%

Shares of NASDAQ:AMCX opened at $5.85 on Monday. The company has a market capitalization of $258.20 million, a PE ratio of -1.11 and a beta of 1.43. 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 has a twelve month low of $5.41 and a twelve month high of $18.58. The firm has a 50 day simple moving average of $6.51 and a 200-day simple moving average of $8.17.

AMC Networks (NASDAQ:AMCX) last issued its quarterly earnings data 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 company had revenue of $555.23 million for the quarter, compared to analysts’ expectations of $567.23 million. AMC Networks had a positive return on equity of 18.61% and a negative net margin of 9.36%. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. On average, equities analysts predict that AMC Networks will post 2.62 EPS for the current fiscal year.

Insider Buying and Selling at AMC Networks

In other AMC Networks news, insider F. Dolan 2009 Revocabl Charles sold 154,345 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.95, for a total value of $1,072,697.75. Following the transaction, the insider now directly owns 20,833 shares of the company’s stock, valued at approximately $144,789.35. The trade was a 88.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.62% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMC Networks

Institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in AMC Networks by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,496 shares of the company’s stock valued at $35,000 after buying an additional 1,097 shares during the period. GAMMA Investing LLC increased its stake in AMC Networks by 254.1% in the 1st quarter. GAMMA Investing LLC now owns 5,201 shares of the company’s stock valued at $36,000 after buying an additional 3,732 shares during the period. R Squared Ltd acquired a new position in shares of AMC Networks during the 4th quarter worth $59,000. Federated Hermes Inc. grew its stake in shares of AMC Networks by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 8,049 shares of the company’s stock worth $80,000 after purchasing an additional 1,918 shares during the period. Finally, US Bancorp DE grew its stake in shares of AMC Networks by 3,351.9% during the 1st quarter. US Bancorp DE now owns 10,045 shares of the company’s stock worth $69,000 after purchasing an additional 9,754 shares during the period. 78.51% of the stock is owned by institutional investors and hedge funds.

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.