AMC Entertainment (NYSE:AMC) Rating Lowered to Strong Sell at Wall Street Zen

AMC Entertainment (NYSE:AMC) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

AMC has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of AMC Entertainment in a report on Wednesday, October 8th. Citigroup upped their target price on AMC Entertainment from $2.60 to $2.70 and gave the stock a “sell” rating in a research report on Tuesday, August 19th. Zacks Research upgraded shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Wedbush upgraded shares of AMC Entertainment from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $3.00 to $4.00 in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, AMC Entertainment currently has an average rating of “Hold” and a consensus target price of $3.33.

AMC Entertainment Stock Performance

AMC Entertainment stock opened at $2.40 on Friday. AMC Entertainment has a fifty-two week low of $2.39 and a fifty-two week high of $5.56. The stock has a 50-day simple moving average of $2.80 and a 200-day simple moving average of $2.95. The company has a market capitalization of $1.23 billion, a P/E ratio of -2.69 and a beta of 1.05.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, analysts forecast that AMC Entertainment will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its position in shares of AMC Entertainment by 17,925.0% during the second quarter. Marshall Wace LLP now owns 11,998,516 shares of the company’s stock worth $37,195,000 after purchasing an additional 11,931,950 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of AMC Entertainment by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company’s stock worth $122,882,000 after purchasing an additional 5,961,337 shares in the last quarter. GMT Capital Corp bought a new stake in AMC Entertainment in the first quarter valued at approximately $5,212,000. Geode Capital Management LLC lifted its stake in shares of AMC Entertainment by 10.6% during the 2nd quarter. Geode Capital Management LLC now owns 10,253,501 shares of the company’s stock worth $31,790,000 after buying an additional 982,532 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of AMC Entertainment during the first quarter worth approximately $2,736,000. 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.