Wedbush Research Analysts Reduce Earnings Estimates for AMC

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Investment analysts at Wedbush lowered their FY2024 earnings estimates for shares of AMC Entertainment in a research note issued on Thursday, November 7th. Wedbush analyst A. Reese now forecasts that the company will earn ($1.42) per share for the year, down from their previous estimate of ($1.22). Wedbush currently has a “Neutral” rating and a $4.00 target price on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.36) per share. Wedbush also issued estimates for AMC Entertainment’s Q4 2024 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.70) EPS and FY2026 earnings at ($0.34) EPS.

AMC has been the subject of a number of other research reports. B. Riley decreased their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday. Benchmark reissued a “hold” rating on shares of AMC Entertainment in a research report on Thursday. Finally, Morgan Stanley decreased their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.44.

AMC Entertainment Stock Performance

Shares of AMC opened at $4.27 on Monday. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $11.88. The company has a 50 day moving average price of $4.50 and a 200-day moving average price of $4.67. The stock has a market capitalization of $1.54 billion, a PE ratio of -2.65 and a beta of 1.83.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV purchased a new position in shares of AMC Entertainment in the third quarter worth $37,000. Skylands Capital LLC purchased a new position in shares of AMC Entertainment in the second quarter worth $50,000. Creative Planning purchased a new position in shares of AMC Entertainment in the third quarter worth $48,000. Amalgamated Bank raised its holdings 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 buying an additional 2,771 shares during the last quarter. Finally, Burns Matteson Capital Management LLC purchased a new position in shares of AMC Entertainment in the third quarter worth $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.