Zacks Investment Research Downgrades AMC Entertainment (AMC) to Hold

AMC Entertainment (NYSE:AMC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

AMC has been the subject of several other research reports. Wedbush set a $19.00 price target on AMC Entertainment and gave the stock a “buy” rating in a research report on Monday, January 8th. B. Riley reissued a “buy” rating and set a $30.00 price target (down previously from $30.50) on shares of AMC Entertainment in a research report on Tuesday, November 7th. Credit Suisse Group dropped their price target on AMC Entertainment from $12.00 to $10.00 and set an “underperform” rating for the company in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada downgraded AMC Entertainment from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $23.25.

AMC Entertainment (AMC) opened at $13.20 on Tuesday. AMC Entertainment has a one year low of $10.80 and a one year high of $34.65. The firm has a market capitalization of $1,700.00, a P/E ratio of -10.08 and a beta of 1.37. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 2.01.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.16 billion. AMC Entertainment had a negative net margin of 3.87% and a negative return on equity of 6.20%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. equities analysts predict that AMC Entertainment will post -1.24 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of AMC. Schwab Charles Investment Management Inc. boosted its holdings in shares of AMC Entertainment by 14.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 260,401 shares of the company’s stock worth $5,925,000 after purchasing an additional 33,000 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of AMC Entertainment by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 445,078 shares of the company’s stock worth $10,126,000 after purchasing an additional 4,485 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of AMC Entertainment by 2.6% during the second quarter. Legal & General Group Plc now owns 13,118 shares of the company’s stock worth $301,000 after purchasing an additional 337 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of AMC Entertainment by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after purchasing an additional 6,055 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of AMC Entertainment by 14.1% during the second quarter. Wells Fargo & Company MN now owns 55,512 shares of the company’s stock worth $1,263,000 after purchasing an additional 6,878 shares during the last quarter. Institutional investors and hedge funds own 48.61% of the company’s stock.

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AMC Entertainment Company Profile

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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