B. Riley Brokers Raise Earnings Estimates for AMC Entertainment Holdings, Inc. (NYSE:AMC)

by · The Cerbat Gem

AMC Entertainment Holdings, Inc. (NYSE:AMC – Free Report) – B. Riley boosted their Q3 2024 EPS estimates for shares of AMC Entertainment in a note issued to investors on Thursday, October 3rd. B. Riley analyst E. Wold now expects that the company will post earnings of ($0.01) per share for the quarter, up from their prior forecast of ($0.11). The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.36) per share. B. Riley also issued estimates for AMC Entertainment’s Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($1.30) EPS, Q1 2025 earnings at ($0.55) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.07) EPS and FY2025 earnings at ($0.44) EPS.

AMC Entertainment (NYSE:AMC – Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.43) EPS for the quarter, meeting analysts’ consensus estimates of ($0.43). The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. The company’s revenue for the quarter was down 23.1% compared to the same quarter last year.

A number of other brokerages have also weighed in on AMC. Macquarie boosted their target price on AMC Entertainment from $3.50 to $4.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 9th. Wedbush restated a “neutral” rating and set a $4.00 price objective on shares of AMC Entertainment in a research report on Monday, August 5th. Morgan Stanley cut their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Finally, Benchmark reissued a “hold” rating on shares of AMC Entertainment in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.70.

Read Our Latest Analysis on AMC Entertainment

AMC Entertainment Price Performance

AMC stock opened at $4.18 on Monday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -3.29 and a beta of 1.80. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $11.88. The business has a fifty day moving average price of $4.82 and a 200-day moving average price of $4.49.

Institutional Trading of AMC Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in shares of AMC Entertainment by 10.3% during the 2nd quarter. Victory Capital Management Inc. now owns 38,050 shares of the company’s stock valued at $189,000 after acquiring an additional 3,553 shares during the period. Waldron Private Wealth LLC raised its stake in shares of AMC Entertainment by 47.0% in the second quarter. Waldron Private Wealth LLC now owns 17,071 shares of the company’s stock worth $85,000 after buying an additional 5,459 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of AMC Entertainment by 14.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,228 shares of the company’s stock valued at $230,000 after buying an additional 5,902 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of AMC Entertainment by 17.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 45,066 shares of the company’s stock valued at $224,000 after acquiring an additional 6,555 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in AMC Entertainment by 50.6% in the 1st quarter. Principal Financial Group Inc. now owns 20,091 shares of the company’s stock worth $75,000 after acquiring an additional 6,748 shares in the last quarter. 28.80% of the stock is owned by hedge funds and other institutional investors.

About AMC Entertainment

(Get Free Report)

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.

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