Q2 2022 Earnings Estimate for AMC Entertainment Holdings, Inc. Issued By Wedbush (NYSE:AMC)

Posted by Jim Brewer on Aug 6th, 2022

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) – Research analysts at Wedbush decreased their Q2 2022 earnings per share estimates for shares of AMC Entertainment in a report issued on Tuesday, August 2nd. Wedbush analyst A. Reese now forecasts that the company will post earnings per share of ($0.36) for the quarter, down from their previous forecast of ($0.33). Wedbush currently has a “Underperform” rating and a $4.00 target price on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.13) per share. Wedbush also issued estimates for AMC Entertainment’s Q3 2022 earnings at ($0.33) EPS, Q4 2022 earnings at ($0.23) EPS, FY2022 earnings at ($1.45) EPS, Q1 2023 earnings at ($0.08) EPS, Q2 2023 earnings at ($0.03) EPS, Q3 2023 earnings at ($0.11) EPS, Q4 2023 earnings at ($0.08) EPS, FY2023 earnings at ($0.30) EPS and FY2024 earnings at ($0.27) EPS.

AMC Entertainment (NYSE:AMC – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. AMC Entertainment’s revenue for the quarter was up 162.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.71) earnings per share.

A number of other brokerages have also recently commented on AMC. StockNews.com upgraded AMC Entertainment to a “sell” rating in a research report on Wednesday, July 20th. B. Riley dropped their price target on AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, June 21st. The Goldman Sachs Group decreased their price objective on AMC Entertainment to $34.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Finally, Citigroup decreased their price objective on AMC Entertainment from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, July 7th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, AMC Entertainment currently has an average rating of “Reduce” and an average price target of $13.50.

AMC Entertainment Trading Up 18.9 %

AMC Entertainment stock opened at $22.18 on Thursday. The business’s fifty day simple moving average is $14.26 and its two-hundred day simple moving average is $15.90. AMC Entertainment has a 12 month low of $9.70 and a 12 month high of $52.79. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of -10.77 and a beta of 1.64.

Hedge Funds Weigh In On AMC Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd lifted its holdings in AMC Entertainment by 417.6% in the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock valued at $26,000 after acquiring an additional 856 shares during the last quarter. Quadrant Capital Group LLC raised its position in AMC Entertainment by 150.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,021 shares of the company’s stock valued at $28,000 after purchasing an additional 613 shares during the period. Allworth Financial LP raised its position in AMC Entertainment by 46.6% in the second quarter. Allworth Financial LP now owns 2,224 shares of the company’s stock valued at $30,000 after purchasing an additional 707 shares during the period. San Luis Wealth Advisors LLC purchased a new stake in AMC Entertainment in the first quarter valued at approximately $31,000. Finally, Point72 Hong Kong Ltd raised its position in AMC Entertainment by 862.0% in the fourth quarter. Point72 Hong Kong Ltd now owns 1,164 shares of the company’s stock valued at $32,000 after purchasing an additional 1,043 shares during the period. Hedge funds and other institutional investors own 34.20% of the company’s stock.

About AMC Entertainment

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AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.