Wedbush Reaffirms “Neutral” Rating for AMC Entertainment (NYSE:AMC)

Wedbush reaffirmed their neutral rating on shares of AMC Entertainment (NYSE:AMC) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $4.00 price objective on the stock. Wedbush also issued estimates for AMC Entertainment’s Q1 2024 earnings at ($0.62) EPS, FY2024 earnings at ($0.87) EPS, Q1 2025 earnings at ($0.36) EPS, FY2025 earnings at ($0.40) EPS and FY2026 earnings at ($0.16) EPS.

Separately, B. Riley lowered their price objective on AMC Entertainment from $12.00 to $8.00 and set a neutral rating for the company in a research note on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Reduce and a consensus price target of $5.95.

AMC Entertainment Trading Up 1.5 %

AMC opened at $2.98 on Monday. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $62.30. The firm has a market cap of $783.26 million, a price-to-earnings ratio of -1.27 and a beta of 1.62. The company has a fifty day simple moving average of $3.73 and a 200 day simple moving average of $5.54.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, analysts forecast that AMC Entertainment will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

Several large investors have recently modified their holdings of AMC. Vanguard Group Inc. increased its holdings in AMC Entertainment by 48.3% in the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock valued at $123,548,000 after buying an additional 6,577,228 shares during the last quarter. Norges Bank acquired a new position in shares of AMC Entertainment in the 4th quarter worth approximately $12,605,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of AMC Entertainment by 103.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 42,150 shares of the company’s stock valued at $337,000 after acquiring an additional 1,178,950 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of AMC Entertainment by 935.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock valued at $6,506,000 after acquiring an additional 735,666 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in AMC Entertainment during the third quarter worth $5,582,000. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.