Analysts Set Expectations for AMC Entertainment Holdings, Inc.’s Q1 2024 Earnings (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Analysts at Wedbush increased their Q1 2024 earnings per share estimates for AMC Entertainment in a research report issued to clients and investors on Thursday, April 18th. Wedbush analyst A. Reese now expects that the company will post earnings per share of ($0.60) for the quarter, up from their previous estimate of ($0.70). Wedbush currently has a “Neutral” rating and a $4.00 price objective 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 released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion.

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

AMC Entertainment Price Performance

Shares of AMC Entertainment stock opened at $3.42 on Monday. The firm’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $5.84. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $62.30. The stock has a market capitalization of $899.10 million, a price-to-earnings ratio of -1.45 and a beta of 1.62.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in AMC Entertainment by 48.3% during the 4th quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock worth $123,548,000 after purchasing an additional 6,577,228 shares during the period. Norges Bank purchased a new stake in shares of AMC Entertainment in the fourth quarter valued at about $12,605,000. Adage Capital Partners GP L.L.C. lifted its stake in AMC Entertainment by 103.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company’s stock valued at $337,000 after buying an additional 1,178,950 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in AMC Entertainment by 935.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock valued at $6,506,000 after buying an additional 735,666 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in AMC Entertainment during the third quarter worth $5,582,000. 28.80% of the stock is owned by institutional investors and hedge funds.

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.