AMC Entertainment Holdings, Inc. (NYSE:AMC) Receives Average Recommendation of “Hold” from Brokerages

AMC Entertainment Holdings, Inc. (NYSE:AMC) has been assigned an average recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $2.67.

AMC has been the subject of a number of research reports. Needham & Company LLC set a $3.50 price target on shares of AMC Entertainment in a report on Tuesday, July 21st. Citigroup restated a “sell” rating and set a $2.20 price objective (up from $1.80) on shares of AMC Entertainment in a report on Friday, September 25th. B. Riley Financial reaffirmed a “neutral” rating and set a $2.50 price objective (up from $2.25) on shares of AMC Entertainment in a research report on Wednesday, July 22nd. Texas Capital upgraded shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, UBS Group reissued a “buy” rating on shares of AMC Entertainment in a research report on Tuesday, July 21st.

AMC Entertainment Stock Down 0.2%

Shares of AMC stock opened at $2.88 on Friday. AMC Entertainment has a 12 month low of $0.93 and a 12 month high of $3.40. The firm has a market cap of $2.57 billion, a PE ratio of -2.69 and a beta of 1.97. The stock has a 50 day moving average of $2.68 and a 200-day moving average of $2.09.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Monday, July 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.17. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.50 billion. As a group, equities analysts predict that AMC Entertainment will post -0.2 EPS for the current fiscal year.

Institutional Trading of AMC Entertainment

Hedge funds have recently modified their holdings of the company. Summit Asset Management LLC bought a new stake in shares of AMC Entertainment during the second quarter valued at approximately $28,000. Royal Bank of Canada raised its stake in shares of AMC Entertainment by 90.7% in the first quarter. Royal Bank of Canada now owns 33,657 shares of the company’s stock valued at $33,000 after purchasing an additional 16,011 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in AMC Entertainment by 64.9% in the second quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company’s stock worth $48,000 after purchasing an additional 10,003 shares during the period. SummitTX Capital L.P. bought a new position in AMC Entertainment in the first quarter worth $73,000. Finally, Essential Partners LLC boosted its stake in AMC Entertainment by 244,580.6% during the first quarter. Essential Partners LLC now owns 88,085 shares of the company’s stock worth $86,000 after buying an additional 88,049 shares in the last quarter. Institutional investors own 28.80% of the company’s stock.

About AMC Entertainment

AMC Entertainment Holdings, Inc operates one of the world’s largest movie-theater businesses under the AMC Theatres and Odeon brands. The company exhibits first-run films and provides audiences with entertainment experiences that include standard screenings, premium formats such as IMAX and Dolby Cinema, and special or alternative programming.

In addition to ticket sales, AMC generates revenue through food and beverage concessions, including expanded menu options and in-theater dining at selected locations.