FY2024 EPS Forecast for AMC Entertainment Boosted by Analyst

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Barrington Research lifted their FY2024 earnings estimates for AMC Entertainment in a report issued on Thursday, November 7th. Barrington Research analyst J. Goss now anticipates that the company will post earnings per share of ($1.49) for the year, up from their prior forecast of ($1.52). The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.36) per share. Barrington Research also issued estimates for AMC Entertainment’s Q4 2024 earnings at ($0.33) EPS, FY2025 earnings at ($0.98) EPS and FY2026 earnings at ($0.63) EPS.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the business earned ($0.09) earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis.

A number of other research analysts have also weighed in on the stock. B. Riley dropped their price target on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday. Benchmark restated a “hold” rating on shares of AMC Entertainment in a report on Thursday. Wedbush restated a “neutral” rating and set a $4.00 price objective on shares of AMC Entertainment in a report on Monday, August 5th. Finally, Morgan Stanley decreased their price objective on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.44.

AMC Entertainment Price Performance

AMC opened at $4.27 on Monday. The company’s 50-day moving average is $4.50 and its 200 day moving average is $4.67. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $11.88. The firm has a market capitalization of $1.54 billion, a P/E ratio of -2.65 and a beta of 1.83.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently modified their holdings of AMC. KBC Group NV purchased a new position in shares of AMC Entertainment in the third quarter worth about $37,000. Creative Planning purchased a new position in shares of AMC Entertainment in the third quarter worth about $48,000. Skylands Capital LLC purchased a new position in shares of AMC Entertainment in the second quarter worth about $50,000. Amalgamated Bank increased its stake in shares of AMC Entertainment by 31.5% in the third quarter. Amalgamated Bank now owns 11,568 shares of the company’s stock worth $53,000 after purchasing an additional 2,771 shares in the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new position in shares of AMC Entertainment in the third quarter worth about $55,000. Hedge funds and other institutional investors own 28.80% of the company’s stock.

About AMC Entertainment

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.