Equities Analysts Issue Forecasts for AMC Entertainment Holdings, Inc.’s Q1 2024 Earnings (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) – Research analysts at Barrington Research issued their Q1 2024 earnings per share (EPS) estimates for AMC Entertainment in a note issued to investors on Thursday, March 9th. Barrington Research analyst J. Goss anticipates that the company will post earnings of ($0.14) per share for the quarter. The consensus estimate for AMC Entertainment’s current full-year earnings is ($0.41) per share. Barrington Research also issued estimates for AMC Entertainment’s FY2025 earnings at ($0.27) EPS.

AMC Entertainment (NYSE:AMC – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.06. The business had revenue of $990.90 million during the quarter, compared to analysts’ expectations of $1.03 billion. AMC Entertainment’s revenue was down 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share.

A number of other equities research analysts have also recently commented on AMC. Citigroup dropped their target price on AMC Entertainment from $1.20 to $1.10 in a research report on Friday, November 25th. Roth Capital reissued a “sell” rating on shares of AMC Entertainment in a research report on Monday, February 13th. Finally, B. Riley lowered their target price on shares of AMC Entertainment from $7.50 to $4.50 and set a “neutral” rating for the company in a research note on Tuesday, January 3rd. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $3.12.

AMC Entertainment Stock Performance

AMC opened at $5.38 on Monday. AMC Entertainment has a one year low of $3.77 and a one year high of $34.33. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -3.93 and a beta of 1.88. The stock’s 50 day moving average price is $5.46 and its 200-day moving average price is $6.46.

Institutional Investors Weigh In On AMC Entertainment

A number of hedge funds have recently made changes to their positions in AMC. Exchange Traded Concepts LLC grew its holdings in shares of AMC Entertainment by 41.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,179 shares of the company’s stock worth $25,000 after purchasing an additional 1,804 shares in the last quarter. Covestor Ltd raised its holdings in shares of AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after acquiring an additional 856 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in AMC Entertainment in the fourth quarter worth $34,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of AMC Entertainment in the fourth quarter worth $46,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of AMC Entertainment by 44.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock worth $46,000 after acquiring an additional 3,448 shares during the last quarter. 26.14% of the stock is currently owned by institutional investors.

Insider Activity

In other AMC Entertainment news, major shareholder Antara Capital Lp acquired 380,900 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were acquired at an average price of $6.48 per share, with a total value of $2,468,232.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Antara Capital Lp acquired 380,900 shares of AMC Entertainment stock in a transaction on Friday, March 3rd. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $2,468,232.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean D. Goodman sold 80,750 shares of the stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $4.68, for a total transaction of $377,910.00. Following the completion of the transaction, the chief financial officer now directly owns 4,420 shares of the company’s stock, valued at approximately $20,685.60. The disclosure for this sale can be found here. Insiders sold 25,323,761 shares of company stock worth $73,220,670 over the last quarter. 0.30% of the stock is currently owned by company insiders.

About AMC Entertainment

(Get Rating)

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the U.S. Markets and International Markets segments. The U.S. Markets segment is involved in owning, leasing, or operating theaters and screens in the U.S. The International Markets segment focuses on owning, leasing, or operating theaters and screens in the United Kingdom, Germany, Spain, Italy, Ireland, Portugal, Sweden, Finland, Norway, Denmark, and Saudi Arabia.