AMC Entertainment (NYSE:AMC) Announces Quarterly Earnings Results

AMC Entertainment (NYSE:AMC) posted its quarterly earnings data on Wednesday. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.03), FiscalAI reports. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The company’s revenue was down 3.6% on a year-over-year basis.

AMC Entertainment Stock Down 0.2%

Shares of NYSE:AMC traded down $0.01 during midday trading on Thursday, reaching $2.50. 5,002,429 shares of the company traded hands, compared to its average volume of 12,810,610. AMC Entertainment has a 12 month low of $2.45 and a 12 month high of $5.56. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.80 and a beta of 1.05. The firm’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $2.95.

Hedge Funds Weigh In On AMC Entertainment

A number of institutional investors have recently added to or reduced their stakes in AMC. Pitcairn Co. bought a new position in AMC Entertainment in the 2nd quarter worth about $34,000. Tower Research Capital LLC TRC increased its stake in AMC Entertainment by 245.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 43,740 shares of the company’s stock worth $136,000 after acquiring an additional 31,096 shares during the last quarter. Prudential Financial Inc. increased its stake in AMC Entertainment by 89.6% in the 2nd quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock worth $173,000 after acquiring an additional 26,310 shares during the last quarter. Sei Investments Co. increased its stake in AMC Entertainment by 327.4% in the 2nd quarter. Sei Investments Co. now owns 70,531 shares of the company’s stock worth $219,000 after acquiring an additional 54,027 shares during the last quarter. Finally, Walleye Capital LLC increased its stake in AMC Entertainment by 152.4% in the 2nd quarter. Walleye Capital LLC now owns 75,683 shares of the company’s stock worth $235,000 after acquiring an additional 220,147 shares during the last quarter. 28.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen raised AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Citigroup boosted their price objective on AMC Entertainment from $2.60 to $2.70 and gave the stock a “sell” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of AMC Entertainment in a research report on Wednesday, October 8th. Zacks Research upgraded AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Wedbush upgraded AMC Entertainment from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $3.00 to $4.00 in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.33.

About AMC Entertainment

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.