AMC Entertainment Holdings, Inc. (NYSE:AMC) to Post Q2 2022 Earnings of ($0.33) Per Share, Wedbush Forecasts

AMC Entertainment Holdings, Inc. (NYSE:AMCGet Rating) – Investment analysts at Wedbush dropped their Q2 2022 earnings estimates for shares of AMC Entertainment in a report released on Tuesday, May 10th. Wedbush analyst A. Reese now expects that the company will post earnings of ($0.33) per share for the quarter, down from their previous forecast of ($0.21). Wedbush also issued estimates for AMC Entertainment’s Q3 2022 earnings at ($0.37) EPS, Q4 2022 earnings at ($0.24) EPS, Q1 2023 earnings at ($0.14) EPS, Q2 2023 earnings at ($0.05) EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.35) EPS and FY2024 earnings at ($0.32) EPS.

A number of other brokerages have also issued reports on AMC. StockNews.com began coverage on shares of AMC Entertainment in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Zacks Investment Research lowered AMC Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. Five analysts have rated the stock with a sell rating and one has issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus price target of $17.63.

Shares of AMC opened at $10.37 on Thursday. The firm has a market cap of $5.36 billion, a PE ratio of -3.66 and a beta of 1.71. The company’s 50 day simple moving average is $17.59 and its 200-day simple moving average is $23.64. AMC Entertainment has a 12-month low of $9.91 and a 12-month high of $72.62.

AMC Entertainment (NYSE:AMCGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.02). The business had revenue of $785.70 million for the quarter, compared to the consensus estimate of $736.23 million. During the same period in the previous year, the company earned ($1.42) EPS. AMC Entertainment’s quarterly revenue was up 429.8% compared to the same quarter last year.

In other AMC Entertainment news, SVP Kevin M. Connor sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $15.05, for a total transaction of $752,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Chris A. Cox sold 14,931 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $28.80, for a total value of $430,012.80. The disclosure for this sale can be found here. Insiders sold a total of 354,070 shares of company stock worth $6,664,426 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in AMC. Tobam boosted its position in shares of AMC Entertainment by 665.6% in the 3rd quarter. Tobam now owns 251,981 shares of the company’s stock worth $9,590,000 after buying an additional 219,068 shares in the last quarter. Franklin Resources Inc. purchased a new stake in AMC Entertainment in the 3rd quarter valued at approximately $609,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in AMC Entertainment by 9.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 121,648 shares of the company’s stock valued at $3,226,000 after buying an additional 10,348 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in AMC Entertainment in the 4th quarter valued at about $2,546,000. Finally, Janus Henderson Group PLC purchased a new position in AMC Entertainment in the 3rd quarter valued at about $1,776,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

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 and Estimates for AMC Entertainment (NYSE:AMC)

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