Wedbush Weighs in on AMC Entertainment Holdings, Inc.'s Q1 2024 Earnings (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) - Wedbush boosted their Q1 2024 earnings per share (EPS) estimates for AMC Entertainment in a report issued on Thursday, April 18th. Wedbush analyst A. Reese now forecasts that the company will post earnings of ($0.60) per share for the quarter, up from their prior estimate of ($0.70). Wedbush currently has a "Neutral" rating and a $4.00 target price on the stock. The consensus estimate for AMC Entertainment's current full-year earnings is ($1.63) per share. Wedbush also issued estimates for AMC Entertainment's Q2 2024 earnings at ($0.17) EPS, Q3 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.91) EPS, Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at $0.01 EPS, FY2025 earnings at ($0.44) EPS and FY2026 earnings at ($0.19) EPS.

AMC Entertainment (NYSE:AMC - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.16. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion.

Separately, B. Riley dropped their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $5.95.

AMC Entertainment Stock Up 8.1 %

NYSE:AMC traded up $0.25 during trading hours on Monday, hitting $3.42. 26,882,240 shares of the stock were exchanged, compared to its average volume of 15,630,746. The company's 50 day moving average is $3.97 and its two-hundred day moving average is $5.88. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $62.30. The company has a market capitalization of $899.10 million, a P/E ratio of -1.46 and a beta of 1.62.

Hedge Funds Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of AMC Entertainment by 48.3% during the 4th quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company's stock worth $123,548,000 after buying an additional 6,577,228 shares during the last quarter. Norges Bank acquired a new stake in AMC Entertainment in the 4th quarter valued at about $12,605,000. Quadrature Capital Ltd grew its holdings in AMC Entertainment by 374.1% during the fourth quarter. Quadrature Capital Ltd now owns 818,077 shares of the company's stock worth $5,003,000 after purchasing an additional 645,541 shares during the period. Qube Research & Technologies Ltd increased its position in AMC Entertainment by 935.5% during the third quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company's stock worth $6,506,000 after buying an additional 735,666 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in AMC Entertainment in the third quarter valued at approximately $5,582,000. 28.80% of the stock is owned by institutional investors and hedge funds.

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.