AMC Entertainment (NYSE:AMC) Stock Rating Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded AMC Entertainment from “hold” to “strong-buy,” while the broader analyst consensus remains “Moderate Buy” with a $2.67 price target.
• AMC shares opened at $2.88 and were reported down 5.7%; the stock has traded between $0.93 and $3.40 over the past year.
• AMC exceeded quarterly expectations, reporting $0.14 in EPS versus a projected $0.03 loss and revenue of $1.60 billion against estimates of $1.50 billion.

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

AMC has been the topic of a number of other research reports. Benchmark reaffirmed a "buy" rating and issued a $3.00 price target (up from $2.50) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Texas Capital raised AMC Entertainment from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Weiss Ratings raised AMC Entertainment from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 31st. Wedbush restated an "outperform" rating and set a $4.00 target price (up from $3.00) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Finally, Citigroup restated a "sell" rating and set a $2.20 target price (up from $1.80) on shares of AMC Entertainment in a research note on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, AMC Entertainment has an average rating of "Moderate Buy" and a consensus price target of $2.67.

AMC Entertainment Trading Down 5.7%

Shares of NYSE AMC opened at $2.88 on Tuesday. The business's fifty day simple moving average is $2.69 and its 200-day simple moving average is $2.15. AMC Entertainment has a 12-month low of $0.93 and a 12-month high of $3.40.

AMC Entertainment (NYSE:AMC - Get Free Report) last released its earnings results on Monday, July 20th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.17. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.50 billion. On average, research analysts forecast that AMC Entertainment will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Large investors have recently bought and sold shares of the business. Summit Asset Management LLC acquired a new position in shares of AMC Entertainment during the 2nd quarter worth about $28,000. Royal Bank of Canada increased its holdings in shares of AMC Entertainment by 90.7% in the 1st quarter. Royal Bank of Canada now owns 33,657 shares of the company's stock valued at $33,000 after acquiring an additional 16,011 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of AMC Entertainment by 64.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company's stock worth $48,000 after acquiring an additional 10,003 shares in the last quarter. SummitTX Capital L.P. acquired a new stake in shares of AMC Entertainment during the 1st quarter worth about $73,000. Finally, Essential Partners LLC raised its position in shares of AMC Entertainment by 244,580.6% during the 1st quarter. Essential Partners LLC now owns 88,085 shares of the company's stock worth $86,000 after acquiring an additional 88,049 shares in the last quarter. Hedge funds and other institutional investors own 28.80% of the company's stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates one of the world's largest movie-theater businesses under the AMC Theatres and Odeon brands. The company exhibits first-run films and provides audiences with entertainment experiences that include standard screenings, premium formats such as IMAX and Dolby Cinema, and special or alternative programming.

In addition to ticket sales, AMC generates revenue through food and beverage concessions, including expanded menu options and in-theater dining at selected locations.

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