AMC Entertainment Holdings, Inc. (NYSE:AMC) to Post Q1 2024 Earnings of ($0.87) Per Share, Barrington Research Forecasts

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Analysts at Barrington Research boosted their Q1 2024 earnings per share (EPS) estimates for shares of AMC Entertainment in a research report issued to clients and investors on Monday, April 22nd. Barrington Research analyst J. Goss now anticipates that the company will earn ($0.87) per share for the quarter, up from their prior forecast of ($0.94). The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.63) per share. Barrington Research also issued estimates for AMC Entertainment’s FY2024 earnings at ($2.10) EPS, FY2025 earnings at ($1.34) EPS and FY2026 earnings at ($1.11) EPS.

A number of other equities research analysts have also recently weighed in on AMC. Wedbush dropped their price target on AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. B. Riley lowered their price objective on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Four equities 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, the company presently has an average rating of “Reduce” and an average target price of $5.95.

AMC Entertainment Stock Performance

AMC opened at $3.28 on Thursday. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $62.30. The stock’s fifty day simple moving average is $3.86 and its 200 day simple moving average is $5.77. The stock has a market cap of $863.56 million, a PE ratio of -1.40 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.16. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion.

Institutional Trading of AMC Entertainment

Several large investors have recently modified their holdings of AMC. Vanguard Group Inc. boosted its stake in AMC Entertainment by 48.3% in the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after buying an additional 6,577,228 shares in the last quarter. Norges Bank acquired a new stake in shares of AMC Entertainment during the fourth quarter valued at about $12,605,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of AMC Entertainment by 103.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company’s stock valued at $337,000 after purchasing an additional 1,178,950 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of AMC Entertainment by 935.5% during the third quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock valued at $6,506,000 after purchasing an additional 735,666 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of AMC Entertainment during the third quarter worth about $5,582,000. 28.80% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.