AMC Entertainment Holdings, Inc. to Post Q2 2024 Earnings of ($0.37) Per Share, Wedbush Forecasts (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Investment analysts at Wedbush lifted their Q2 2024 EPS estimates for AMC Entertainment in a research report issued to clients and investors on Tuesday, July 23rd. Wedbush analyst A. Reese now anticipates that the company will post earnings per share of ($0.37) for the quarter, up from their prior forecast of ($0.46). 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 ($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 posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The firm had revenue of $951.40 million for the quarter, compared to the consensus estimate of $951.40 million.

Other analysts also recently issued research reports about the company. Citigroup boosted their target price on AMC Entertainment from $3.10 to $3.20 and gave the stock a “sell” rating in a research report on Tuesday, May 14th. Macquarie boosted their price objective on shares of AMC Entertainment from $3.50 to $4.00 and gave the stock an “underperform” rating in a report on Tuesday, July 9th. Five research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, AMC Entertainment has a consensus rating of “Reduce” and a consensus target price of $5.37.

AMC Entertainment Trading Up 0.8 %

AMC opened at $5.18 on Friday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -4.08 and a beta of 1.84. The stock has a 50-day moving average price of $4.97 and a 200-day moving average price of $4.33. AMC Entertainment has a 12-month low of $2.38 and a 12-month high of $54.60.

Institutional Trading of AMC Entertainment

Institutional investors have recently made changes to their positions in the stock. HB Wealth Management LLC bought a new stake in AMC Entertainment during the 4th quarter valued at $95,000. Oak Thistle LLC bought a new stake in shares of AMC Entertainment in the fourth quarter worth about $459,000. Arizona State Retirement System increased its holdings in AMC Entertainment by 38.5% during the 4th quarter. Arizona State Retirement System now owns 55,449 shares of the company’s stock valued at $339,000 after purchasing an additional 15,406 shares during the period. HBK Sorce Advisory LLC raised its position in AMC Entertainment by 31.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 27,459 shares of the company’s stock valued at $168,000 after purchasing an additional 6,525 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in AMC Entertainment by 116.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,326 shares of the company’s stock valued at $247,000 after purchasing an additional 21,734 shares during the last quarter. Hedge funds and other institutional investors own 28.80% of the company’s stock.

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.