Morgan Stanley Downgrades AMC Networks Inc to Equal-weight with Price Target $65.00

Brokerage firm Morgan Stanley Downgrades its rating on AMC Networks Inc(NASDAQ:AMCX). In a research note issued to the investors, the brokerage major Lowers the price-target to $65.00 per share. The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Morgan Stanley was issued on Jun 22, 2016.

In a different note, On Apr 26, 2016, Macquarie said it Upgrades its rating on AMC Networks Inc. The shares have been rated ‘Outperform’ by the firm. Jefferies said it Initiates Coverage on AMC Networks Inc, according to a research note issued on Apr 5, 2016. The shares have been rated ‘Hold’ by the firm.

AMC Networks Inc (AMCX) shares turned negative on Mondays trading session with the shares closing down -2.19 points or -3.81% at a volume of 10,70,579. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $57.335. The peak price level was also seen at $57.335 while the days lowest was $54.81. Finally the shares closed at $55.24. The 52-week high of the shares is $87.18 while the 52-week low is $54.81. According to the latest information available, the market cap of the company is $4,015 M.

AMC Networks Inc(AMCX) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $706.58M. Analysts had an estimated revenue of $697.79M. Earnings per share were $2.08. Analysts had estimated an EPS of $1.80.

Several Insider Transactions has been reported to the SEC. On May 26, 2015, James Gallagher (EVP and General Counsel) sold 1,000 shares at $77.49 per share price.Also, On May 7, 2015, Edward A Carroll (Chief Operating Officer) sold 8,250 shares at $79.21 per share price.On Mar 19, 2015, John P Giraldo (Chief Accounting Officer) sold 3,976 shares at $72.18 per share price, according to the Form-4 filing with the securities and exchange commission.

AMC Networks Inc. is a holding company which conducts all of its operations through its majority-owned or controlled subsidiaries. The Company owns and operates various cable television brands. The Company manages its business through two segments: National Networks which includes five programming networks: AMC WE tv BBC AMERICA IFC and SundanceTV which are available to its distributors in high-definition and/or standard-definition formats and International and Other which principally includes AMC Networks International the Company’s international programming businesses consisting of a portfolio of channels in Europe Latin America the Middle East and parts of Asia and Africa; IFC Films the Company’s independent film distribution business; AMC Networks International – DMC (formerly Chello DMC) the broadcast solutions unit of certain networks of AMC Networks International and third party networks; and various developing on-line content distribution initiatives.

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