AMC Entertainment (NYSE:AMC) Hits New 1-Year Low After Analyst Downgrade

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price reached a new 52-week low during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $2.70 to $2.30. Citigroup currently has a sell rating on the stock. AMC Entertainment traded as low as $2.35 and last traded at $2.3750, with a volume of 9086278 shares traded. The stock had previously closed at $2.46.

Several other brokerages also recently commented on AMC. Zacks Research downgraded shares of AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of AMC Entertainment from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.26.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. boosted its position in AMC Entertainment by 248.6% during the third quarter. Raymond James Financial Inc. now owns 74,981 shares of the company’s stock worth $217,000 after purchasing an additional 53,473 shares during the period. One Capital Management LLC bought a new position in shares of AMC Entertainment in the third quarter valued at about $44,000. Jump Financial LLC acquired a new stake in shares of AMC Entertainment during the 3rd quarter worth about $4,827,000. Landscape Capital Management L.L.C. bought a new stake in shares of AMC Entertainment during the 3rd quarter worth about $1,203,000. Finally, UBS Group AG boosted its holdings in shares of AMC Entertainment by 4,537.9% during the 3rd quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock worth $67,265,000 after buying an additional 22,694,842 shares during the period. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Price Performance

The firm has a 50-day moving average price of $2.76 and a 200 day moving average price of $2.94. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -2.56 and a beta of 1.05.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company earned ($0.04) earnings per share. The business’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts anticipate that AMC Entertainment Holdings, Inc. will post -1.38 EPS for the current fiscal year.

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.