Citigroup Inc. restated their buy rating on shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) in a research report released on Monday morning. Citigroup Inc. currently has a $21.00 price objective on the stock, down from their previous price objective of $30.00.
AMC has been the subject of a number of other research reports. BidaskClub lowered shares of AMC Entertainment Holdings from a sell rating to a strong sell rating in a research report on Friday, June 23rd. Barclays PLC set a $16.00 price objective on shares of AMC Entertainment Holdings and gave the company a hold rating in a research report on Tuesday, August 29th. MKM Partners reaffirmed a buy rating and set a $36.00 price objective (down previously from $45.00) on shares of AMC Entertainment Holdings in a research report on Friday, June 9th. Zacks Investment Research lowered shares of AMC Entertainment Holdings from a hold rating to a sell rating in a research report on Tuesday, July 11th. Finally, Credit Suisse Group cut their price objective on shares of AMC Entertainment Holdings from $20.00 to $17.00 and set an underperform rating for the company in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. AMC Entertainment Holdings currently has an average rating of Hold and a consensus price target of $28.76.
Shares of AMC Entertainment Holdings (NYSE:AMC) opened at 14.10 on Monday. AMC Entertainment Holdings has a 12-month low of $12.05 and a 12-month high of $35.65. The stock’s 50 day moving average price is $15.32 and its 200 day moving average price is $24.10. The firm’s market cap is $1.84 billion.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings data on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by $1.41. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. On average, equities research analysts predict that AMC Entertainment Holdings will post ($1.03) EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 5.67%. AMC Entertainment Holdings’s payout ratio is currently -125.00%.
AMC Entertainment Holdings announced that its board has authorized a share buyback plan on Thursday, August 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 58% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other AMC Entertainment Holdings news, Director Jack Qunyao Gao bought 20,000 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $12.50 per share, with a total value of $250,000.00. Following the completion of the purchase, the director now directly owns 30,500 shares in the company, valued at approximately $381,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AMC. Teachers Advisors LLC grew its stake in AMC Entertainment Holdings by 42.5% during the fourth quarter. Teachers Advisors LLC now owns 49,693 shares of the company’s stock worth $1,672,000 after buying an additional 14,811 shares during the last quarter. Russell Investments Group Ltd. grew its stake in AMC Entertainment Holdings by 897.0% during the first quarter. Russell Investments Group Ltd. now owns 80,049 shares of the company’s stock worth $2,517,000 after buying an additional 72,020 shares during the last quarter. Wells Fargo & Company MN grew its stake in AMC Entertainment Holdings by 70.4% during the first quarter. Wells Fargo & Company MN now owns 48,634 shares of the company’s stock worth $1,529,000 after buying an additional 20,090 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in AMC Entertainment Holdings by 241.8% during the first quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after buying an additional 3,932 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in AMC Entertainment Holdings by 15.5% during the first quarter. American Century Companies Inc. now owns 202,246 shares of the company’s stock worth $6,361,000 after buying an additional 27,140 shares during the last quarter. 46.96% of the stock is currently owned by institutional investors and hedge funds.
AMC Entertainment Holdings Company Profile
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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