AMC Entertainment (NYSE:AMC) Hits New 1-Year Low at $10.66

AMC Entertainment Holdings Inc (NYSE:AMC) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.66 and last traded at $10.68, with a volume of 65449 shares trading hands. The stock had previously closed at $11.04.

A number of research analysts have issued reports on AMC shares. Barrington Research restated a “buy” rating on shares of AMC Entertainment in a report on Friday, March 1st. Wedbush restated an “outperform” rating and issued a $22.00 target price on shares of AMC Entertainment in a report on Friday, February 22nd. MKM Partners reduced their target price on shares of AMC Entertainment to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, February 12th. Imperial Capital upped their target price on shares of AMC Entertainment from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Zacks Investment Research lowered shares of AMC Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $18.78.

The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 82.23 and a beta of 1.11. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.33 and a current ratio of 0.33.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.74). The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. AMC Entertainment had a negative return on equity of 11.59% and a negative net margin of 0.72%. The company’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. Analysts expect that AMC Entertainment Holdings Inc will post -0.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 7.48%. AMC Entertainment’s payout ratio is currently 615.38%.

In related news, Director Raymond C. Stachowiak acquired 160,559 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $2.73 per share, for a total transaction of $438,326.07. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of AMC Entertainment by 14.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,990 shares of the company’s stock worth $104,000 after acquiring an additional 908 shares during the period. Hollencrest Capital Management raised its holdings in AMC Entertainment by 10.9% in the first quarter. Hollencrest Capital Management now owns 11,251 shares of the company’s stock valued at $167,000 after buying an additional 1,103 shares during the period. Legal & General Group Plc raised its holdings in AMC Entertainment by 16.0% in the fourth quarter. Legal & General Group Plc now owns 9,306 shares of the company’s stock valued at $114,000 after buying an additional 1,287 shares during the period. Golden State Wealth Management LLC purchased a new position in AMC Entertainment in the first quarter valued at approximately $25,000. Finally, Hsbc Holdings PLC raised its holdings in AMC Entertainment by 2.3% in the fourth quarter. Hsbc Holdings PLC now owns 78,634 shares of the company’s stock valued at $965,000 after buying an additional 1,757 shares during the period. Institutional investors and hedge funds own 49.23% of the company’s stock.

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About AMC Entertainment (NYSE:AMC)

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2018, it owned, operated, or had interests in 637 theatres with a total of 8,114 screens in the United States; and 369 theatres and 2,977 screens in European markets.

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