AMC Entertainment (NYSE:AMC) Updates Q1 2024 Earnings Guidance

AMC Entertainment (NYSE:AMC) updated its first quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.620–0.620 for the period, compared to the consensus earnings per share estimate of -0.790. The company issued revenue guidance of $951.4 million-$951.4 million, compared to the consensus revenue estimate of $861.1 million. AMC Entertainment also updated its Q1 guidance to $(0.62) EPS.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AMC shares. B. Riley decreased their price target on shares of AMC Entertainment from $12.00 to $8.00 and set a neutral rating for the company in a research report on Thursday, February 29th. Wedbush cut their target price on AMC Entertainment from $6.00 to $4.00 and set a neutral rating on the stock in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, AMC Entertainment presently has an average rating of Reduce and an average target price of $5.95.

AMC Entertainment Price Performance

NYSE AMC traded up $0.13 during mid-day trading on Friday, reaching $3.41. 15,198,065 shares of the stock were exchanged, compared to its average volume of 15,580,860. The stock has a market cap of $897.78 million, a P/E ratio of -1.45 and a beta of 1.62. AMC Entertainment has a one year low of $2.38 and a one year high of $62.30. The stock has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $5.77.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data 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. Sell-side analysts anticipate that AMC Entertainment will post -1.61 EPS for the current fiscal year.

About AMC Entertainment

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.