AMC Entertainment (NYSE:AMC) Announces Earnings Results, Beats Expectations By $0.03 EPS

AMC Entertainment (NYSE:AMC) announced its earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Briefing.com reports. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. AMC Entertainment’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) earnings per share.

AMC Entertainment Price Performance

AMC Entertainment stock traded down $0.28 during mid-day trading on Thursday, reaching $4.30. 15,734,708 shares of the company were exchanged, compared to its average volume of 26,289,707. The firm has a market cap of $1.55 billion, a PE ratio of -2.88 and a beta of 1.83. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $11.88. The company has a fifty day simple moving average of $4.52 and a 200-day simple moving average of $4.65.

Wall Street Analysts Forecast Growth

AMC has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Monday, August 12th. Wedbush restated a “neutral” rating and issued a $4.00 price objective on shares of AMC Entertainment in a report on Monday, August 5th. B. Riley decreased their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Benchmark restated a “hold” rating on shares of AMC Entertainment in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.44.

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.