FY2024 EPS Estimate for AMC Entertainment Lowered by Analyst

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Analysts at Wedbush dropped their FY2024 EPS estimates for AMC Entertainment in a report released on Thursday, November 7th. Wedbush analyst A. Reese now forecasts that the company will post earnings of ($1.42) per share for the year, down from their previous estimate of ($1.22). Wedbush has a “Neutral” rating and a $4.00 price target on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.42) per share. Wedbush also issued estimates for AMC Entertainment’s Q4 2024 earnings at ($0.17) EPS, Q2 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.70) EPS and FY2026 earnings at ($0.34) EPS.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share.

A number of other research firms have also recently weighed in on AMC. Morgan Stanley dropped their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Monday, August 12th. B. Riley dropped their target price on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, Benchmark restated a “hold” rating on shares of AMC Entertainment in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.44.

AMC Entertainment Trading Up 5.2 %

AMC opened at $4.49 on Monday. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $11.88. The company’s 50-day moving average price is $4.50 and its two-hundred day moving average price is $4.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AMC. Vanguard Group Inc. boosted its holdings in AMC Entertainment by 22.9% in the 1st quarter. Vanguard Group Inc. now owns 24,804,669 shares of the company’s stock worth $92,273,000 after buying an additional 4,617,007 shares during the period. Renaissance Technologies LLC boosted its holdings in AMC Entertainment by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock worth $51,223,000 after buying an additional 1,585,430 shares during the period. Marshall Wace LLP bought a new position in AMC Entertainment in the 2nd quarter valued at $6,775,000. SG Americas Securities LLC boosted its holdings in AMC Entertainment by 1,894.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,121,025 shares of the company’s stock valued at $5,583,000 after purchasing an additional 1,064,805 shares during the period. Finally, Boulder Hill Capital Management LP bought a new position in AMC Entertainment in the 1st quarter valued at $2,842,000. 28.80% of the stock is owned by institutional investors.

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.