Wedbush Brokers Lift Earnings Estimates for AMC Entertainment Holdings, Inc. (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Stock analysts at Wedbush upped their Q1 2024 earnings estimates for shares of AMC Entertainment in a research report issued on Thursday, April 18th. Wedbush analyst A. Reese now anticipates that the company will earn ($0.60) per share for the quarter, up from their previous forecast 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.

Separately, B. Riley reduced their price target on 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 research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $5.95.

AMC Entertainment Stock Performance

Shares of AMC Entertainment stock opened at $3.42 on Monday. The stock’s fifty day moving average is $3.94 and its 200 day moving average is $5.84. AMC Entertainment has a one year low of $2.38 and a one year high of $62.30. The stock has a market cap of $899.10 million, a P/E ratio of -1.45 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share 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 the consensus estimate of $1.06 billion.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently made changes to their positions in the business. Qube Research & Technologies Ltd lifted 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 worth $6,506,000 after purchasing an additional 735,666 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of AMC Entertainment during the third quarter worth $5,582,000. HBK Sorce Advisory LLC grew its stake in AMC Entertainment by 31.2% during the fourth quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after acquiring an additional 6,525 shares in the last quarter. Oak Thistle LLC bought a new position in shares of AMC Entertainment during the 4th quarter valued at about $459,000. Finally, Exchange Traded Concepts LLC grew its position in shares of AMC Entertainment by 63.5% during the third quarter. Exchange Traded Concepts LLC now owns 14,806 shares of the company’s stock valued at $118,000 after purchasing an additional 5,748 shares in the last quarter. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.