AMC Entertainment (NYSE:AMC) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AMC Entertainment (NYSE:AMC) posted its earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Briefing.com reports. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the firm posted ($0.09) earnings per share. The firm’s revenue was down 4.1% compared to the same quarter last year.

AMC Entertainment Price Performance

AMC Entertainment stock traded down $0.28 during midday trading on Thursday, hitting $4.30. The company’s stock had a trading volume of 15,549,105 shares, compared to its average volume of 26,288,848. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -2.88 and a beta of 1.83. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $11.88. The company has a 50-day moving average price of $4.52 and a two-hundred day moving average price of $4.65.

Analyst Upgrades and Downgrades

Several research firms have commented on AMC. B. Riley decreased their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley decreased their price target on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. Benchmark restated a “hold” rating on shares of AMC Entertainment in a research report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $4.00 target price on shares of AMC Entertainment in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.44.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.