AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) – Stock analysts at B. Riley increased their Q1 2023 earnings estimates for AMC Entertainment in a research report issued on Monday, April 10th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of ($0.24) for the quarter, up from their previous forecast of ($0.25). B. Riley has a “Neutral” rating and a $4.50 price objective on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($0.41) per share. B. Riley also issued estimates for AMC Entertainment’s Q2 2023 earnings at ($0.08) EPS, Q3 2023 earnings at ($0.10) EPS, Q4 2023 earnings at ($0.05) EPS, FY2023 earnings at ($0.48) EPS, Q1 2024 earnings at ($0.19) EPS, Q2 2024 earnings at ($0.02) EPS and Q3 2024 earnings at ($0.06) EPS.
Several other research firms have also commented on AMC. Citigroup assumed coverage on shares of AMC Entertainment in a report on Thursday, March 23rd. They issued a “sell” rating and a $1.60 price target on the stock. Roth Capital reiterated a “sell” rating on shares of AMC Entertainment in a research report on Monday, February 13th. Finally, StockNews.com raised AMC Entertainment to a “sell” rating in a research report on Thursday, April 6th. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $3.22.
AMC Entertainment Price Performance
AMC Entertainment (NYSE:AMC – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $990.90 million for the quarter, compared to analyst estimates of $1.03 billion. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share.
Institutional Investors Weigh In On AMC Entertainment
A number of institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in AMC Entertainment by 41.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,179 shares of the company’s stock valued at $25,000 after acquiring an additional 1,804 shares in the last quarter. Covestor Ltd lifted its position in AMC Entertainment by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after buying an additional 856 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in AMC Entertainment in the fourth quarter valued at $34,000. Mercer Global Advisors Inc. ADV purchased a new stake in AMC Entertainment in the fourth quarter valued at $46,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of AMC Entertainment by 44.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock valued at $46,000 after buying an additional 3,448 shares during the period. Institutional investors own 26.14% of the company’s stock.
Insiders Place Their Bets
In other AMC Entertainment news, major shareholder Antara Capital Lp bought 380,900 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was acquired at an average price of $6.48 per share, with a total value of $2,468,232.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 82,136,975 shares of company stock worth $162,630,021 over the last three months. Company insiders own 0.30% of the company’s stock.
About AMC Entertainment
AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the U.S. Markets and International Markets segments. The U.S. Markets segment is involved in owning, leasing, or operating theaters and screens in the U.S. The International Markets segment focuses on owning, leasing, or operating theaters and screens in the United Kingdom, Germany, Spain, Italy, Ireland, Portugal, Sweden, Finland, Norway, Denmark, and Saudi Arabia.
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