Wedbush Comments on AMC Entertainment Holdings, Inc.’s Q2 2024 Earnings (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Equities research analysts at Wedbush upped their Q2 2024 earnings per share (EPS) estimates for AMC Entertainment in a research note issued on Tuesday, July 23rd. Wedbush analyst A. Reese now expects that the company will earn ($0.37) per share for the quarter, up from their previous estimate of ($0.46). Wedbush currently has a “Neutral” rating and a $4.00 target price on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($0.76) per share. Wedbush also issued estimates for AMC Entertainment’s Q3 2024 earnings at $0.01 EPS, Q4 2024 earnings at $0.04 EPS, FY2024 earnings at ($0.76) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at $0.04 EPS, Q4 2025 earnings at $0.06 EPS, FY2025 earnings at ($0.24) EPS and FY2026 earnings at ($0.12) EPS.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, May 8th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The business had revenue of $951.40 million during the quarter, compared to analyst estimates of $951.40 million.

A number of other equities analysts also recently commented on the stock. Citigroup upped their target price on shares of AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research note on Tuesday, May 14th. Macquarie increased their price objective on AMC Entertainment from $3.50 to $4.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 9th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, AMC Entertainment currently has a consensus rating of “Reduce” and a consensus target price of $5.37.

AMC Entertainment Price Performance

AMC stock opened at $5.18 on Friday. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $54.60. The firm’s 50-day moving average is $4.97 and its 200 day moving average is $4.33. The company has a market capitalization of $1.53 billion, a PE ratio of -4.08 and a beta of 1.84.

Hedge Funds Weigh In On AMC Entertainment

A number of large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new position in AMC Entertainment during the 4th quarter valued at approximately $34,000. Mayflower Financial Advisors LLC purchased a new position in AMC Entertainment in the 1st quarter worth $37,000. Skylands Capital LLC acquired a new stake in AMC Entertainment during the 2nd quarter worth about $50,000. Powell Investment Advisors LLC purchased a new stake in AMC Entertainment during the 1st quarter valued at about $55,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of AMC Entertainment by 817.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,945 shares of the company’s stock valued at $61,000 after purchasing an additional 8,861 shares during the period. 28.80% of the stock is currently 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.