AMC Entertainment Holdings, Inc. (NYSE:AMC) Expected to Announce Earnings of -$0.96 Per Share

Wall Street analysts expect AMC Entertainment Holdings, Inc. (NYSE:AMC) to post ($0.96) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for AMC Entertainment’s earnings, with the lowest EPS estimate coming in at ($1.22) and the highest estimate coming in at ($0.80). AMC Entertainment reported earnings of ($5.44) per share during the same quarter last year, which would indicate a positive year over year growth rate of 82.4%. The business is expected to issue its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that AMC Entertainment will report full year earnings of ($3.36) per share for the current financial year, with EPS estimates ranging from ($4.23) to ($2.90). For the next fiscal year, analysts expect that the firm will report earnings of ($0.70) per share, with EPS estimates ranging from ($0.87) to ($0.50). Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for AMC Entertainment.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Wednesday, May 5th. The company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.12). The firm had revenue of $148.30 million for the quarter, compared to analyst estimates of $161.18 million. During the same period last year, the business earned ($2.22) EPS. The business’s revenue for the quarter was down 84.2% on a year-over-year basis.

A number of research analysts have recently issued reports on the stock. UBS Group began coverage on shares of AMC Entertainment in a research note on Wednesday, March 10th. They set a “sell” rating on the stock. Zacks Investment Research downgraded shares of AMC Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, March 30th. Wedbush upped their target price on shares of AMC Entertainment from $2.50 to $5.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 9th. Loop Capital reissued a “sell” rating and set a $1.00 price target on shares of AMC Entertainment in a research note on Wednesday, April 7th. Finally, MKM Partners cut AMC Entertainment from a “neutral” rating to a “sell” rating and set a $1.00 price objective for the company. in a report on Monday, February 1st. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.30.

In related news, Director America Entertainment I. Wanda sold 1,582,996 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $14.43, for a total transaction of $22,842,632.28. Following the sale, the director now owns 46,103,784 shares in the company, valued at $665,277,603.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Elizabeth F. Frank sold 40,000 shares of AMC Entertainment stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $13.56, for a total transaction of $542,400.00. Following the completion of the sale, the executive vice president now directly owns 173,780 shares of the company’s stock, valued at $2,356,456.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,844,579 shares of company stock valued at $25,709,103. 1.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC grew its holdings in AMC Entertainment by 44.4% in the 1st quarter. Sowell Financial Services LLC now owns 4,332 shares of the company’s stock valued at $39,000 after buying an additional 1,332 shares during the period. Glassman Wealth Services boosted its position in shares of AMC Entertainment by 207.6% in the first quarter. Glassman Wealth Services now owns 3,156 shares of the company’s stock worth $32,000 after acquiring an additional 2,130 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in AMC Entertainment by 281.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock valued at $30,000 after purchasing an additional 2,140 shares during the period. RVW Wealth LLC increased its position in AMC Entertainment by 9.5% during the first quarter. RVW Wealth LLC now owns 32,488 shares of the company’s stock worth $1,000,000 after purchasing an additional 2,832 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in AMC Entertainment by 21.9% during the fourth quarter. Sigma Planning Corp now owns 22,698 shares of the company’s stock worth $48,000 after purchasing an additional 4,075 shares during the period. Hedge funds and other institutional investors own 16.61% of the company’s stock.

Shares of NYSE AMC traded up $0.21 during mid-day trading on Friday, hitting $12.98. 207,589,934 shares of the company were exchanged, compared to its average volume of 135,944,594. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -0.37 and a beta of 2.48. AMC Entertainment has a 1-year low of $1.91 and a 1-year high of $20.36. The stock has a 50 day simple moving average of $9.91 and a 200-day simple moving average of $6.48.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 12, 2021, it operated approximately 1000 theatres and 10,700 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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