Royal Bank of Canada Lowers AMC Entertainment (AMC) to Sector Perform

AMC Entertainment (NYSE:AMC) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, MarketBeat reports.

Other equities research analysts have also issued research reports about the company. MKM Partners reaffirmed a “buy” rating and set a $28.00 price target on shares of AMC Entertainment in a research note on Monday, September 18th. Zacks Investment Research raised AMC Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. B. Riley set a $30.00 price target on AMC Entertainment and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Wedbush set a $21.00 price target on AMC Entertainment and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Credit Suisse Group decreased their price objective on AMC Entertainment from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.15.

Shares of AMC Entertainment (NYSE AMC) traded up $0.35 during mid-day trading on Wednesday, reaching $14.45. The company’s stock had a trading volume of 4,660,000 shares, compared to its average volume of 2,720,000. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.53 and a current ratio of 0.53. AMC Entertainment has a 52-week low of $10.80 and a 52-week high of $34.90. The company has a market capitalization of $1,860.00, a price-to-earnings ratio of -11.03 and a beta of 1.37.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Monday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). AMC Entertainment had a negative return on equity of 6.20% and a negative net margin of 3.87%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $0.31 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. equities analysts expect that AMC Entertainment will post -1.3 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in shares of AMC Entertainment by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock worth $110,000 after buying an additional 372 shares during the period. Seven Eight Capital LP purchased a new position in shares of AMC Entertainment in the second quarter worth about $125,000. Pacer Advisors Inc. increased its holdings in shares of AMC Entertainment by 12.0% in the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after buying an additional 601 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in shares of AMC Entertainment in the third quarter worth about $147,000. Finally, BNP Paribas Arbitrage SA increased its holdings in AMC Entertainment by 574.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after purchasing an additional 6,055 shares during the period. Hedge funds and other institutional investors own 48.60% of the company’s stock.

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AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.

Analyst Recommendations for AMC Entertainment (NYSE:AMC)

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