AMC Entertainment Holdings, Inc. (NYSE:AMC) Expected to Post Q1 2024 Earnings of ($0.87) Per Share

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Equities researchers at Barrington Research raised their Q1 2024 earnings per share (EPS) estimates for AMC Entertainment in a note issued to investors on Monday, April 22nd. Barrington Research analyst J. Goss now anticipates that the company will earn ($0.87) per share for the quarter, up from their previous estimate of ($0.94). The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.63) per share. Barrington Research also issued estimates for AMC Entertainment’s FY2024 earnings at ($2.10) EPS, FY2025 earnings at ($1.34) EPS and FY2026 earnings at ($1.11) EPS.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion.

Other analysts also recently issued reports about the company. Wedbush lowered their price objective on AMC Entertainment from $6.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. B. Riley lowered their price objective on AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, AMC Entertainment currently has a consensus rating of “Reduce” and a consensus price target of $5.95.

AMC Entertainment Stock Performance

Shares of NYSE:AMC opened at $3.29 on Thursday. The business’s 50 day simple moving average is $3.89 and its two-hundred day simple moving average is $5.79. The firm has a market cap of $866.18 million, a P/E ratio of -1.40 and a beta of 1.62. AMC Entertainment has a 52-week low of $2.38 and a 52-week high of $62.30.

Institutional Trading of AMC Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Avantax Advisory Services Inc. increased its position in shares of AMC Entertainment by 43.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 16,663 shares of the company’s stock valued at $102,000 after acquiring an additional 5,070 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of AMC Entertainment during the fourth quarter valued at approximately $34,000. Exchange Traded Concepts LLC increased its position in shares of AMC Entertainment by 63.5% during the third quarter. Exchange Traded Concepts LLC now owns 14,806 shares of the company’s stock valued at $118,000 after acquiring an additional 5,748 shares during the last quarter. Blueshift Asset Management LLC increased its position in shares of AMC Entertainment by 13.2% during the third quarter. Blueshift Asset Management LLC now owns 53,008 shares of the company’s stock valued at $424,000 after acquiring an additional 6,163 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its position in shares of AMC Entertainment by 31.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after acquiring an additional 6,525 shares during the last quarter. 28.80% of the stock is 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.