Zacks: Brokerages Expect AMC Entertainment Holdings, Inc. (NYSE:AMC) Will Announce Earnings of -$1.15 Per Share

Equities analysts expect AMC Entertainment Holdings, Inc. (NYSE:AMC) to announce earnings per share (EPS) of ($1.15) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for AMC Entertainment’s earnings, with the lowest EPS estimate coming in at ($1.44) and the highest estimate coming in at ($1.01). AMC Entertainment reported earnings of ($2.22) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 48.2%. The firm is scheduled to issue its next earnings report on Tuesday, June 8th.

According to Zacks, analysts expect that AMC Entertainment will report full-year earnings of ($2.79) per share for the current financial year, with EPS estimates ranging from ($3.42) to ($2.33). For the next year, analysts expect that the business will post earnings of ($0.66) per share, with EPS estimates ranging from ($0.92) to ($0.45). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover AMC Entertainment.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Tuesday, March 9th. The company reported ($3.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.80) by ($0.35). The firm had revenue of $162.50 million during the quarter, compared to analyst estimates of $141.31 million. The business’s revenue was down 88.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS.

Several research firms have weighed in on AMC. MKM Partners downgraded AMC Entertainment from a “neutral” rating to a “sell” rating and set a $1.00 price target on the stock. in a research note on Monday, February 1st. Wedbush lifted their price objective on AMC Entertainment from $2.50 to $5.00 and gave the company a “neutral” rating in a research note on Tuesday, March 9th. Zacks Investment Research downgraded AMC Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, March 30th. B. Riley upgraded AMC Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $7.00 to $13.00 in a research report on Monday, April 5th. Finally, UBS Group initiated coverage on shares of AMC Entertainment in a research note on Wednesday, March 10th. They issued a “sell” rating for the company. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $5.00.

Shares of NYSE AMC traded up $0.33 during midday trading on Monday, reaching $9.66. The company had a trading volume of 32,346,298 shares, compared to its average volume of 155,267,641. The business’s 50-day simple moving average is $10.25 and its 200 day simple moving average is $5.67. AMC Entertainment has a 1 year low of $1.91 and a 1 year high of $20.36. The stock has a market cap of $4.35 billion, a P/E ratio of -0.28 and a beta of 2.48.

In related news, Director Lake Group L.L.C. Silver sold 33,317,145 shares of the firm’s stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $16.05, for a total transaction of $534,740,177.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean D. Goodman sold 45,404 shares of the firm’s stock in a transaction dated Friday, April 16th. The stock was sold at an average price of $9.49, for a total value of $430,883.96. Following the sale, the chief financial officer now directly owns 156,705 shares of the company’s stock, valued at $1,487,130.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,172,784 shares of company stock worth $590,024,146. Insiders own 1.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMC. California Public Employees Retirement System grew its position in AMC Entertainment by 5.1% in the 3rd quarter. California Public Employees Retirement System now owns 124,708 shares of the company’s stock valued at $587,000 after acquiring an additional 6,029 shares in the last quarter. Great West Life Assurance Co. Can grew its position in AMC Entertainment by 9,615.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 343,931 shares of the company’s stock valued at $530,000 after acquiring an additional 340,391 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in AMC Entertainment by 10.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,266,412 shares of the company’s stock valued at $5,965,000 after acquiring an additional 115,820 shares in the last quarter. Morgan Stanley grew its position in AMC Entertainment by 124.6% in the 3rd quarter. Morgan Stanley now owns 437,249 shares of the company’s stock valued at $2,058,000 after acquiring an additional 242,612 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of AMC Entertainment by 106.7% in the 3rd quarter. Squarepoint Ops LLC now owns 27,077 shares of the company’s stock valued at $128,000 after buying an additional 13,977 shares during the period. 16.61% of the stock is owned by institutional investors.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 17, 2020, it operated approximately 1,000 theatres and 11,000 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Earnings History and Estimates for AMC Entertainment (NYSE:AMC)

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