Q3 2023 Earnings Estimate for AMC Entertainment Holdings, Inc. (NYSE:AMC) Issued By Wedbush

Posted by Defense World Staff on Aug 28th, 2023

AMC Entertainment Holdings, Inc. (NYSE:AMC – Free Report) – Equities research analysts at Wedbush increased their Q3 2023 earnings estimates for AMC Entertainment in a research report issued on Thursday, August 24th. Wedbush analyst A. Reese now anticipates that the company will post earnings of ($0.10) per share for the quarter, up from their prior forecast of ($0.60). Wedbush currently has a “Neutral” rating and a $19.00 target price on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($2.47) per share. Wedbush also issued estimates for AMC Entertainment’s Q4 2023 earnings at ($0.43) EPS, FY2023 earnings at ($0.70) EPS, Q1 2024 earnings at ($0.84) EPS, Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.30) EPS, Q4 2024 earnings at ($0.20) EPS, FY2024 earnings at ($1.49) EPS and FY2025 earnings at ($0.91) EPS.

Several other research firms have also weighed in on AMC. B. Riley reiterated a “neutral” rating and issued a $45.00 price objective on shares of AMC Entertainment in a research note on Monday, August 14th. Roth Mkm reiterated a “sell” rating on shares of AMC Entertainment in a research report on Wednesday, August 16th. StockNews.com assumed coverage on shares of AMC Entertainment in a research report on Thursday, August 17th. They issued a “sell” rating for the company. Finally, Citigroup reiterated a “sell” rating on shares of AMC Entertainment in a research report on Monday, July 3rd. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $21.25.

Get Our Latest Stock Analysis on AMC

AMC Entertainment Price Performance

AMC stock opened at $12.43 on Monday. AMC Entertainment has a 52-week low of $12.40 and a 52-week high of $107.50. The company’s 50 day simple moving average is $42.25 and its 200-day simple moving average is $44.94. The firm has a market capitalization of $645.35 million, a P/E ratio of -1.94 and a beta of 1.77.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd grew its stake in AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after buying an additional 856 shares during the last quarter. Machina Capital S.A.S. acquired a new position in AMC Entertainment in the 1st quarter valued at $26,000. Carl Stuart Investment Advisor Inc. acquired a new position in AMC Entertainment in the 1st quarter valued at $1,412,826,000. Exchange Traded Concepts LLC grew its stake in AMC Entertainment by 32.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 8,156 shares of the company’s stock valued at $41,000 after buying an additional 1,977 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in AMC Entertainment in the 1st quarter valued at $212,000. 26.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AMC Entertainment

In other news, major shareholder Antara Capital Lp sold 120,794 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $16.20, for a total transaction of $1,956,862.80. Following the transaction, the insider now owns 14,349,490 shares in the company, valued at approximately $232,461,738. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 3,046,476 shares of company stock worth $52,455,235 in the last 90 days. 0.30% of the stock is owned by insiders.

AMC Entertainment Company Profile

(Get Free Report)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. AMC Entertainment Holdings, Inc was founded in 1920 and is headquartered in Leawood, Kansas.