AMC Entertainment Holdings, Inc. Expected to Earn Q1 2024 Earnings of ($0.60) Per Share (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Analysts at Wedbush increased their Q1 2024 earnings per share (EPS) estimates for AMC Entertainment in a report released on Thursday, April 18th. Wedbush analyst A. Reese now forecasts that the company will earn ($0.60) per share for the quarter, up from their prior forecast of ($0.70). Wedbush has a “Neutral” rating and a $4.00 price target on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.63) per share. Wedbush also issued estimates for AMC Entertainment’s Q2 2024 earnings at ($0.17) EPS, Q3 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.91) EPS, Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at ($0.44) EPS and FY2026 earnings at ($0.19) EPS.

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

Separately, B. Riley cut their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, AMC Entertainment currently has a consensus rating of “Reduce” and a consensus target price of $5.95.

AMC Entertainment Price Performance

AMC opened at $3.16 on Monday. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $62.30. The business has a 50-day moving average of $3.97 and a two-hundred day moving average of $5.88. The stock has a market capitalization of $831.96 million, a price-to-earnings ratio of -1.34 and a beta of 1.62.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 purchasing an additional 6,577,228 shares in the last quarter. Invesco Ltd. grew its position in AMC Entertainment by 418.4% in the first 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 in the last quarter. Norges Bank bought a new stake in AMC Entertainment during the 4th quarter worth about $12,605,000. Marshall Wace LLP bought a new position in shares of AMC Entertainment in the 2nd quarter valued at about $6,406,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of AMC Entertainment by 103.7% in 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 acquiring an additional 1,178,950 shares during the last quarter. Institutional investors own 28.80% of the company’s stock.

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.