Zacks Investment Research Upgrades AMC Entertainment (AMC) to “Hold”

Zacks Investment Research upgraded shares of AMC Entertainment (NYSE:AMC) from a sell rating to a hold rating in a research report released on Wednesday morning.

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 weighed in on AMC. MKM Partners reaffirmed a buy rating and set a $28.00 price objective on shares of AMC Entertainment in a research note on Monday, September 18th. Wedbush set a $21.00 target price on shares of AMC Entertainment and gave the stock a buy rating in a research report on Wednesday, November 1st. B. Riley set a $30.00 target price on shares of AMC Entertainment and gave the stock a buy rating in a research report on Tuesday, November 14th. Credit Suisse Group reduced their target price on shares of AMC Entertainment from $14.00 to $12.00 and set an underperform rating on the stock in a research report on Thursday, September 28th. Finally, Royal Bank of Canada lowered shares of AMC Entertainment from an outperform rating to a sector perform rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $24.15.

Shares of AMC Entertainment (NYSE AMC) traded up $0.35 during trading on Wednesday, reaching $14.45. 4,660,000 shares of the company’s stock traded hands, compared to its average volume of 2,720,000. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $1,860.00, a PE ratio of -11.03 and a beta of 1.37. AMC Entertainment has a 1 year low of $10.80 and a 1 year high of $34.90.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.04). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. AMC Entertainment had a negative return on equity of 6.20% and a negative net margin of 3.87%. AMC Entertainment’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. equities analysts expect that AMC Entertainment will post -1.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Monday, December 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.54%. AMC Entertainment’s payout ratio is -61.07%.

Hedge funds have recently made changes to their positions in the company. Independent Advisor Alliance acquired a new position in AMC Entertainment in the third quarter valued at approximately $291,000. Aperio Group LLC acquired a new position in AMC Entertainment in the third quarter valued at approximately $440,000. B. Riley Financial Inc. lifted its holdings in AMC Entertainment by 56.3% in the second quarter. B. Riley Financial Inc. now owns 25,985 shares of the company’s stock valued at $591,000 after buying an additional 9,364 shares during the period. Bank of Nova Scotia acquired a new position in AMC Entertainment in the second quarter valued at approximately $1,138,000. Finally, Corbyn Investment Management Inc. MD lifted its holdings in AMC Entertainment by 2.4% in the third quarter. Corbyn Investment Management Inc. MD now owns 578,509 shares of the company’s stock valued at $8,504,000 after buying an additional 13,755 shares during the period. Institutional investors own 48.60% of the company’s stock.

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About AMC Entertainment

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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