AMC Entertainment Holdings, Inc. (NYSE:AMC) Forecasted to Earn Q1 2024 Earnings of ($0.62) Per Share

AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) - Analysts at Wedbush cut their Q1 2024 earnings per share (EPS) estimates for shares of AMC Entertainment in a research note issued on Monday, April 29th. Wedbush analyst A. Reese now expects that the company will post earnings of ($0.62) per share for the quarter, down from their prior forecast of ($0.60). Wedbush has a "Neutral" rating and a $4.00 price objective on the stock. The consensus estimate for AMC Entertainment's current full-year earnings is ($1.61) per share. Wedbush also issued estimates for AMC Entertainment's FY2024 earnings at ($0.87) EPS, Q1 2025 earnings at ($0.36) EPS, FY2025 earnings at ($0.40) EPS and FY2026 earnings at ($0.16) EPS.

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

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

AMC Entertainment Trading Up 1.5 %

Shares of NYSE AMC traded up $0.04 during mid-day trading on Wednesday, reaching $2.98. The company had a trading volume of 14,789,560 shares, compared to its average volume of 15,588,696. AMC Entertainment has a 52-week low of $2.38 and a 52-week high of $62.30. The firm has a 50 day simple moving average of $3.76 and a two-hundred day simple moving average of $5.56.

Hedge Funds Weigh In On AMC Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 purchased a new position in AMC Entertainment during the fourth quarter worth about $12,605,000. Adage Capital Partners GP L.L.C. lifted its position in AMC Entertainment by 103.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company's stock valued at $337,000 after purchasing an additional 1,178,950 shares during the period. Qube Research & Technologies Ltd boosted its holdings in AMC Entertainment by 935.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company's stock valued at $6,506,000 after purchasing an additional 735,666 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in AMC Entertainment during the 3rd quarter worth approximately $5,582,000. Hedge funds and other institutional investors own 28.80% of the company's stock.

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.