Zacks Investment Research downgraded shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) from a hold rating to a sell rating in a report published on Tuesday, July 11th.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
Several other brokerages have also recently issued reports on AMC. FBR & Co reaffirmed a buy rating and set a $37.00 target price on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. Citigroup Inc. dropped their target price on AMC Entertainment Holdings from $36.00 to $35.00 and set a buy rating on the stock in a research report on Friday, June 9th. B. Riley reaffirmed a buy rating and set a $47.50 target price on shares of AMC Entertainment Holdings in a research report on Wednesday, March 29th. Barclays PLC increased their target price on AMC Entertainment Holdings from $30.00 to $36.00 and gave the company an overweight rating in a research report on Monday, April 17th. Finally, Wedbush dropped their target price on AMC Entertainment Holdings from $41.00 to $40.00 and set an outperform rating on the stock in a research report on Monday, March 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $29.96.
AMC Entertainment Holdings (NYSE:AMC) traded down 2.77% during midday trading on Tuesday, reaching $14.05. The company’s stock had a trading volume of 3,632,723 shares. AMC Entertainment Holdings has a 12-month low of $13.65 and a 12-month high of $35.65. The firm has a 50 day moving average price of $20.47 and a 200-day moving average price of $27.01. The company’s market cap is $1.84 billion.
AMC Entertainment Holdings (NYSE:AMC) last announced its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $1.41. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The firm’s revenue was up 57.3% compared to the same quarter last year. During the same period last year, the business posted $0.24 EPS. On average, equities research analysts predict that AMC Entertainment Holdings will post ($1.04) earnings per share for the current fiscal year.
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AMC Entertainment Holdings declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 58% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 annualized dividend and a dividend yield of 5.69%. AMC Entertainment Holdings’s dividend payout ratio is presently -125.00%.
In other news, CEO Adam M. Aron acquired 10,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was bought at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the purchase, the chief executive officer now owns 90,426 shares in the company, valued at $2,235,330.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin M. Connor acquired 4,000 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were purchased at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the purchase, the senior vice president now owns 40,705 shares in the company, valued at approximately $957,381.60. The disclosure for this purchase can be found here. 0.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AMC. Alliancebernstein L.P. boosted its position in shares of AMC Entertainment Holdings by 74.7% in the first quarter. Alliancebernstein L.P. now owns 75,348 shares of the company’s stock valued at $2,370,000 after buying an additional 32,223 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of AMC Entertainment Holdings by 67.1% in the first quarter. Prudential Financial Inc. now owns 30,779 shares of the company’s stock valued at $968,000 after buying an additional 12,360 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of AMC Entertainment Holdings by 0.3% in the first quarter. Janus Capital Management LLC now owns 2,417,897 shares of the company’s stock valued at $76,043,000 after buying an additional 8,318 shares in the last quarter. LMR Partners LLP bought a new position in shares of AMC Entertainment Holdings during the first quarter valued at $2,192,000. Finally, FMR LLC boosted its position in shares of AMC Entertainment Holdings by 5,837.8% in the fourth quarter. FMR LLC now owns 723,524 shares of the company’s stock valued at $24,347,000 after buying an additional 711,339 shares in the last quarter. Institutional investors and hedge funds own 42.02% of the company’s stock.
About AMC Entertainment Holdings
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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