AMC Entertainment (NYSE:AMC) Announces Quarterly Earnings Results

AMC Entertainment (NYSE:AMCGet Rating) issued its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03), Fidelity Earnings reports. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted ($0.71) earnings per share. The company’s revenue for the quarter was up 162.3% on a year-over-year basis.

AMC Entertainment Stock Up 19.2 %

NYSE:AMC traded up $3.58 during trading hours on Friday, hitting $22.24. 3,998,835 shares of the company traded hands, compared to its average volume of 36,736,804. AMC Entertainment has a one year low of $9.70 and a one year high of $52.79. The company has a market cap of $11.49 billion, a PE ratio of -9.92 and a beta of 1.64. The firm’s 50-day simple moving average is $14.10 and its 200-day simple moving average is $15.88.

Analyst Ratings Changes

Several research firms have recently weighed in on AMC. Wedbush reiterated an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a research report on Tuesday. The Goldman Sachs Group cut their target price on AMC Entertainment to $34.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a research note on Wednesday, July 20th. Citigroup cut their target price on shares of AMC Entertainment from $6.00 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, July 7th. Finally, B. Riley decreased their price objective on AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, June 21st. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, AMC Entertainment presently has a consensus rating of “Reduce” and an average target price of $13.50.

Institutional Trading of AMC Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Toroso Investments LLC increased its stake in AMC Entertainment by 19.0% in the 1st quarter. Toroso Investments LLC now owns 50,616 shares of the company’s stock valued at $1,247,000 after buying an additional 8,079 shares during the last quarter. Quantamental Technologies LLC bought a new position in AMC Entertainment during the first quarter valued at about $212,000. Eaton Vance Management increased its holdings in AMC Entertainment by 71,855.2% during the first quarter. Eaton Vance Management now owns 213,707 shares of the company’s stock worth $5,265,000 after buying an additional 213,410 shares during the last quarter. Guggenheim Capital LLC raised its position in AMC Entertainment by 63.0% in the first quarter. Guggenheim Capital LLC now owns 21,565 shares of the company’s stock worth $531,000 after acquiring an additional 8,336 shares during the period. Finally, State Street Corp boosted its stake in AMC Entertainment by 0.8% in the first quarter. State Street Corp now owns 13,393,337 shares of the company’s stock valued at $330,012,000 after acquiring an additional 107,221 shares during the last quarter. Hedge funds and other institutional investors own 34.20% of the company’s stock.

AMC Entertainment Company Profile

(Get Rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Earnings History for AMC Entertainment (NYSE:AMC)

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