AMC Entertainment (NYSE:AMC) Issues Earnings Results, Misses Estimates By $0.03 EPS

AMC Entertainment (NYSE:AMCGet Rating) released its earnings results on Thursday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03), Fidelity Earnings reports. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. The firm’s revenue was up 162.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.71) earnings per share.

AMC Entertainment Stock Up 18.9 %

Shares of AMC Entertainment stock traded up $3.52 during trading on Friday, reaching $22.18. 125,780,168 shares of the stock were exchanged, compared to its average volume of 36,927,912. The stock’s fifty day moving average is $14.26 and its 200 day moving average is $15.90. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of -13.95 and a beta of 1.64. AMC Entertainment has a 1 year low of $9.70 and a 1 year high of $52.79.

AMC Entertainment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, August 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wedbush reissued an “underperform” rating and issued a $4.00 target price on shares of AMC Entertainment in a research note on Tuesday. Citigroup cut their price target on shares of AMC Entertainment from $6.00 to $5.00 and set a “sell” rating for the company in a research report on Thursday, July 7th. The Goldman Sachs Group cut their price target on shares of AMC Entertainment to $34.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. B. Riley cut their price target on shares of AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. Finally, StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a research report on Wednesday, July 20th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $13.50.

Institutional Trading of AMC Entertainment

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in AMC Entertainment by 17.5% in the first quarter. American Century Companies Inc. now owns 20,312 shares of the company’s stock worth $500,000 after buying an additional 3,020 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in AMC Entertainment by 49.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 44,525 shares of the company’s stock worth $1,097,000 after buying an additional 14,732 shares in the last quarter. Panagora Asset Management Inc. raised its stake in AMC Entertainment by 141.2% in the first quarter. Panagora Asset Management Inc. now owns 50,244 shares of the company’s stock worth $1,238,000 after buying an additional 29,413 shares in the last quarter. Cibc World Market Inc. bought a new position in AMC Entertainment in the first quarter worth about $321,000. Finally, Prudential PLC bought a new position in AMC Entertainment in the first quarter worth about $275,000. 34.20% of the stock is currently owned by hedge funds and other institutional investors.

About AMC Entertainment

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AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Earnings History for AMC Entertainment (NYSE:AMC)

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