AMC Entertainment (NYSE:AMC) Rating Lowered to Sell at Zacks Investment Research

AMC Entertainment (NYSE:AMC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “

A number of other equities analysts also recently weighed in on the stock. Macquarie downgraded shares of AMC Entertainment from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 1st. Citigroup lifted their target price on shares of AMC Entertainment from $3.70 to $5.00 and gave the stock a “sell” rating in a research note on Thursday, August 19th. Finally, Wedbush reissued a “hold” rating and set a $7.50 target price on shares of AMC Entertainment in a research note on Thursday, August 12th. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.64.

Shares of AMC Entertainment stock opened at $37.91 on Tuesday. AMC Entertainment has a fifty-two week low of $1.91 and a fifty-two week high of $72.62. The firm has a market capitalization of $19.46 billion, a P/E ratio of -2.26 and a beta of 1.27. The company’s 50 day moving average price is $39.91 and its two-hundred day moving average price is $33.30.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Sunday, August 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.91) by $0.20. The business had revenue of $444.70 million for the quarter, compared to the consensus estimate of $382.11 million. AMC Entertainment’s revenue was up 2252.9% on a year-over-year basis. During the same period in the previous year, the business posted ($5.44) EPS. Research analysts expect that AMC Entertainment will post -2.75 earnings per share for the current year.

In other AMC Entertainment news, CFO Sean D. Goodman sold 45,405 shares of AMC Entertainment stock in a transaction on Monday, August 16th. The shares were sold at an average price of $34.79, for a total value of $1,579,639.95. Following the completion of the sale, the chief financial officer now directly owns 111,300 shares of the company’s stock, valued at $3,872,127. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wagner Wealth Management LLC acquired a new position in shares of AMC Entertainment during the second quarter valued at about $26,000. Samalin Investment Counsel LLC acquired a new position in shares of AMC Entertainment during the second quarter valued at about $27,000. Evolution Wealth Advisors LLC acquired a new position in shares of AMC Entertainment during the second quarter valued at about $28,000. Sittner & Nelson LLC acquired a new position in shares of AMC Entertainment during the second quarter valued at about $28,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of AMC Entertainment during the second quarter valued at about $28,000. Hedge funds and other institutional investors own 24.90% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.

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