AMC Entertainment Holdings, Inc. (NYSE:AMC) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Brokerages have assigned AMC Entertainment Holdings, Inc. an average rating of "Reduce," with two analysts recommending a sell, five a hold, and one a buy, while the average price target stands at $4.26.
• In the recent quarter, AMC reported an earnings per share (EPS) of ($0.58), exceeding expectations, but revenue decreased by 9.3% compared to the same quarter last year at $862.50 million.
• Institutional investors are showing increasing interest, with several firms making notable investments in AMC, resulting in 28.80% of the stock being owned by such investors and hedge funds.

Shares of AMC Entertainment Holdings, Inc. (NYSE:AMC - Get Free Report) have been assigned an average rating of "Reduce" from the eight brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $4.26.

AMC has been the subject of a number of research reports. Roth Mkm lowered their target price on AMC Entertainment from $3.25 to $3.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. B. Riley initiated coverage on AMC Entertainment in a research note on Friday, May 16th. They issued a "neutral" rating and a $3.00 target price for the company. Citigroup restated a "sell" rating and issued a $2.60 target price (up from $2.30) on shares of AMC Entertainment in a research note on Thursday, May 29th. Finally, Wedbush upgraded AMC Entertainment from a "neutral" rating to an "outperform" rating and raised their target price for the company from $3.00 to $4.00 in a research note on Friday, July 11th.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. May Hill Capital LLC bought a new position in shares of AMC Entertainment in the 2nd quarter worth $34,000. Bogart Wealth LLC boosted its position in shares of AMC Entertainment by 83.3% in the 2nd quarter. Bogart Wealth LLC now owns 22,000 shares of the company's stock worth $68,000 after purchasing an additional 10,000 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of AMC Entertainment in the 2nd quarter worth $42,000. Sovereign Financial Group Inc. bought a new position in shares of AMC Entertainment in the 2nd quarter worth $32,000. Finally, SLT Holdings LLC bought a new position in shares of AMC Entertainment in the 2nd quarter worth $124,000. 28.80% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Trading Down 1.4%

Shares of AMC opened at $2.86 on Friday. AMC Entertainment has a 1 year low of $2.45 and a 1 year high of $5.56. The stock has a 50 day simple moving average of $3.19 and a 200-day simple moving average of $3.09. The stock has a market cap of $1.24 billion, a PE ratio of -2.92 and a beta of 1.49.

AMC Entertainment (NYSE:AMC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.03. The business had revenue of $862.50 million during the quarter, compared to the consensus estimate of $983.23 million. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.62) EPS. On average, sell-side analysts forecast that AMC Entertainment will post -1.38 EPS for the current fiscal year.

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.

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