AMC Entertainment Holdings, Inc. to Post Third Quarter 2022 Earnings of ($0.31) Per Share, Forecasts by B. Riley (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rated) – Investment analysts at B. Riley lowered their 3Q 2022 earnings per share estimates for AMC Entertainment in a research note issued Wednesday, Oct. 12 . B. Riley analyst E. Wold now expects the company to earn ($0.31) per share for the quarter, down from his previous estimate of ($0.26). B. Riley has a “Neutral” rating and a $7.50 price target on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.26) per share. B. Riley also issued estimates for AMC Entertainment’s 2022 Fourth Quarter Earnings at ($0.10) EPS, 2022 Fiscal Year Earnings at ($0.17) EPS, 2023 First Quarter Earnings at ($0.23) EPS, 2023 Q2 Earnings at ($0.05) EPS, 2023 Q3 Earnings at ($0.09) EPS, 2023 Q4 Earnings at ($0.03) EPS, and 2023 Fiscal Year Earnings at ($0.40) EPS.

AMC Entertainment (NYSE:AMC – Get Rating) last released its quarterly earnings data on Thursday, August 4. The company reported earnings per share (EPS) ($0.06) for the quarter, beating analyst consensus estimates of ($0.07) by $0.01. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. AMC Entertainment’s revenue for the quarter increased 162.3% compared to the same quarter last year. During the same quarter last year, the company posted EPS ($0.18).

AMC has been the subject of several other reports. MKM Partners lowered its price target on AMC Entertainment to $0.50 in a report on Tuesday, September 6. StockNews.com kicked off its coverage of AMC Entertainment in a report on Wednesday. They set a “sale” rating for the company. Wedbush reaffirmed an “underperforming” rating and set a $1.00 price target for AMC Entertainment stock in a report on Tuesday, August 2. Citigroup lowered its price target on AMC Entertainment from $1.50 to $1.25 and set a “sell” rating on the stock in a research report Thursday, July 7. Ultimately, The Goldman Sachs Group lowered its price target on AMC Entertainment to $8.50 and set a “neutral” rating on the stock in a research report on Friday, July 29. Three investment analysts have rated the stock a sell rating and two have given the stock a hold rating. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $3.75.

AMC Entertainment Price Performance

NYSE:AMC shares opened at $6.04 on Friday. AMC Entertainment has a 1-year minimum of $5.47 and a 1-year maximum of $45.95. The company has a 50-day moving average price of $7.74 and a 200-day moving average price of $5.19. The company has a market cap of $3.12 billion, a PE ratio of -3.80, and a beta of 1.71.

Institutional entrances and exits

Large investors have recently made changes to their positions on the stock market. Covestor Ltd improved its position in AMC Entertainment shares by 417.6% during the first quarter. Covestor Ltd now owns 1,061 shares of the company valued at $26,000 after buying an additional 856 shares in the last quarter. San Luis Wealth Advisors LLC purchased a new stake in AMC Entertainment during the first quarter valued at approximately $31,000. Fifth Third Bancorp increased its stake in AMC Entertainment by 1,197.2% during the first quarter. Fifth Third Bancorp now owns 1,375 shares of the company valued at $34,000 after purchasing an additional 1,269 shares during the period. Lindbrook Capital LLC increased its stake in AMC Entertainment by 5,340.7% during the first quarter. Lindbrook Capital LLC now owns 1,469 shares of the company valued at $36,000 after purchasing an additional 1,442 shares during the period. Finally, SJS Investment Consulting Inc. purchased a new stake in AMC Entertainment during the first quarter valued at approximately $37,000. 27.73% of the shares are owned by hedge funds and other institutional investors.

Insiders place their bets

In other AMC Entertainment news, CAO Chris A. Cox sold 12,000 shares of the company in a transaction on Monday, August 8. The shares were sold at an average price of $25.00, for a total value of $300,000.00. Following the transaction, the chief accounting officer now directly owns 1,250 shares of the company, valued at $31,250. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the company’s website. SEC. Insiders own 0.22% of the company’s shares.

AMC Entertainment cuts dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 19. Shareholders of record on Monday, August 15 received a dividend of $0.0025. The ex-dividend date of this dividend was Friday, August 12. This represents an annualized dividend of $0.01 and a yield of 0.17%.

AMC Entertainment Company Profile

(Get rating)

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

Other readings

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

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