AMC Entertainment Holdings, Inc. (NYSE:AMC) to Post FY2023 Earnings of ($2.03) Per Share, B. Riley Forecasts

AMC Entertainment Holdings, Inc. (NYSE:AMC) – B. Riley increased their FY2023 EPS estimates for shares of AMC Entertainment in a report released on Thursday, November 9th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of ($2.03) for the year, up from their previous forecast of ($2.32). B. Riley has a “Neutral” rating and a $15.00 price objective on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($2.13) per share. B. Riley also issued estimates for AMC Entertainment’s Q4 2023 earnings at ($0.61) EPS, Q1 2024 earnings at ($1.01) EPS, Q3 2024 earnings at ($0.45) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($1.66) EPS, Q1 2025 earnings at ($0.93) EPS and Q3 2025 earnings at ($0.32) EPS.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.11. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.26 billion. AMC Entertainment’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the company earned ($2.00) EPS.

AMC has been the topic of a number of other research reports. Roth Mkm increased their price target on AMC Entertainment to $5.00 and gave the company a “sell” rating in a research report on Tuesday, October 17th. Wedbush raised AMC Entertainment from an “underperform” rating to a “neutral” rating and set a $19.00 target price on the stock in a research report on Thursday, August 24th. Credit Suisse Group cut their target price on AMC Entertainment from $8.38 to $8.00 and set an “underperform” rating on the stock in a research report on Friday, September 1st. StockNews.com initiated coverage on AMC Entertainment in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Finally, Citigroup cut their target price on AMC Entertainment from $15.50 to $4.75 and set a “sell” rating on the stock in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $10.35.

AMC Entertainment Price Performance

AMC stock opened at $8.01 on Monday. The firm has a market capitalization of $1.27 billion, a P/E ratio of -1.94 and a beta of 1.95. The business’s 50-day moving average is $9.09 and its two-hundred day moving average is $30.44. AMC Entertainment has a 1 year low of $7.05 and a 1 year high of $91.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMC. Invesco Ltd. grew its stake in shares of AMC Entertainment by 418.4% in the 1st quarter. Invesco Ltd. now owns 2,635,266 shares of the company’s stock valued at $64,934,000 after purchasing an additional 2,126,916 shares during the last quarter. Cadian Capital Management LP purchased a new position in shares of AMC Entertainment in the 2nd quarter valued at approximately $7,757,000. Vanguard Group Inc. grew its stake in shares of AMC Entertainment by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 49,270,302 shares of the company’s stock valued at $343,413,000 after purchasing an additional 1,682,299 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of AMC Entertainment in the 2nd quarter valued at approximately $6,406,000. Finally, Cowen AND Company LLC grew its stake in shares of AMC Entertainment by 295.6% in the 2nd quarter. Cowen AND Company LLC now owns 1,760,300 shares of the company’s stock valued at $7,745,000 after purchasing an additional 1,315,300 shares during the last quarter. Institutional investors and hedge funds own 28.79% of the company’s stock.

About AMC Entertainment

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. AMC Entertainment Holdings, Inc was founded in 1920 and is headquartered in Leawood, Kansas.