Equities Analysts Set Expectations for AMC FY2024 Earnings

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Equities research analysts at Roth Capital lifted their FY2024 earnings per share (EPS) estimates for shares of AMC Entertainment in a report issued on Monday, December 9th. Roth Capital analyst E. Handler now forecasts that the company will post earnings per share of ($1.33) for the year, up from their prior forecast of ($1.38). The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.42) per share. Roth Capital also issued estimates for AMC Entertainment’s FY2025 earnings at $0.11 EPS and FY2026 earnings at $0.39 EPS.

A number of other research firms have also commented on AMC. B. Riley reduced their target price on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. StockNews.com raised AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. Finally, Macquarie reaffirmed an “underperform” rating and issued a $4.00 price objective on shares of AMC Entertainment in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $5.44.

AMC Entertainment Trading Down 0.8 %

Shares of NYSE:AMC opened at $4.32 on Thursday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -2.68 and a beta of 1.85. The stock has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $4.77. AMC Entertainment has a 12-month low of $2.38 and a 12-month high of $11.88.

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

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently made changes to their positions in the business. Amalgamated Bank increased its stake in AMC Entertainment by 31.5% during the third quarter. Amalgamated Bank now owns 11,568 shares of the company’s stock worth $53,000 after acquiring an additional 2,771 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of AMC Entertainment by 27.5% during the third quarter. Private Advisor Group LLC now owns 15,011 shares of the company’s stock valued at $68,000 after buying an additional 3,237 shares during the last quarter. Victory Capital Management Inc. grew its stake in AMC Entertainment by 10.3% in the second quarter. Victory Capital Management Inc. now owns 38,050 shares of the company’s stock worth $189,000 after purchasing an additional 3,553 shares in the last quarter. Waldron Private Wealth LLC grew its stake in AMC Entertainment by 47.0% in the second quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company’s stock worth $85,000 after purchasing an additional 5,459 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AMC Entertainment by 14.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company’s stock worth $230,000 after purchasing an additional 5,902 shares in the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.