AMC Entertainment (NYSE:AMC) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• AMC Entertainment has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, indicating analyst confidence in the stock.
• Despite the upgrade, analysts have mixed views with Citigroup setting a target price of $2.70 and maintaining a "sell" rating, while others have varied ratings from "hold" to "outperform."
• The company's latest earnings report showed a 35.6% increase in revenue year-over-year, but it reported a greater-than-expected loss per share, missing analyst estimates.

AMC Entertainment (NYSE:AMC - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on AMC. Citigroup raised their target price on AMC Entertainment from $2.60 to $2.70 and gave the company a "sell" rating in a report on Tuesday, August 19th. Weiss Ratings restated a "sell (e+)" rating on shares of AMC Entertainment in a report on Wednesday, October 8th. Wall Street Zen upgraded AMC Entertainment from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. 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 report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, AMC Entertainment presently has an average rating of "Hold" and an average price target of $3.33.

AMC Entertainment Trading Down 0.5%

NYSE AMC opened at $2.74 on Wednesday. The stock has a market cap of $1.40 billion, a PE ratio of -3.07 and a beta of 1.25. AMC Entertainment has a twelve month low of $2.45 and a twelve month high of $5.56. The stock has a fifty day simple moving average of $2.86 and a 200-day simple moving average of $2.97.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.36). The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the business earned ($0.43) EPS. AMC Entertainment's revenue for the quarter was up 35.6% compared to the same quarter last year. Research analysts predict that AMC Entertainment will post -1.38 EPS for the current year.

Institutional Investors Weigh In On AMC Entertainment

Hedge funds have recently bought and sold shares of the stock. Total Investment Management Inc. acquired a new stake in AMC Entertainment in the 2nd quarter valued at about $27,000. Sovereign Financial Group Inc. acquired a new stake in AMC Entertainment in the 2nd quarter valued at about $32,000. Ground Swell Capital LLC acquired a new stake in AMC Entertainment in the 1st quarter valued at about $30,000. CFO4Life Group LLC acquired a new stake in shares of AMC Entertainment during the 2nd quarter worth about $33,000. Finally, Pitcairn Co. acquired a new stake in shares of AMC Entertainment during the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 28.80% of the company's stock.

AMC Entertainment Company Profile

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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