Wedbush Research Analysts Lower Earnings Estimates for AMC Entertainment Holdings

AMC Entertainment Holdings Inc (NYSE:AMC) – Equities researchers at Wedbush dropped their FY2020 earnings per share estimates for shares of AMC Entertainment in a research report issued to clients and investors on Tuesday, November 3rd.

Wedbush analyst M. Pachter now anticipates that the company will post earnings of ($17.76) per share for the year, down from their prior estimate of ($16.92).

Wedbush has a “Neutral” rating and a $7.00 price objective on the stock. Wedbush also issued estimates for AMC Entertainment’s Q4 2020 earnings at ($4.39) EPS, Q1 2021 earnings at ($1.48) EPS, Q2 2021 earnings at ($0.82) EPS, Q3 2021 earnings at ($0.94) EPS, Q4 2021 earnings at ($0.38) EPS, FY2021 earnings at ($3.60) EPS and FY2022 earnings at ($2.16) EPS.

A number of other equities research analysts also recently issued reports on AMC. MKM Partners cut their price objective on shares of AMC Entertainment from $4.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday. Zacks Investment Research downgraded shares of AMC Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, October 28th. Smith Barney Citigroup cut their price objective on shares of AMC Entertainment from $4.00 to $3.00 in a research report on Monday, October 26th. B. Riley dropped their target price on shares of AMC Entertainment from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barrington Research reaffirmed a “hold” rating on shares of AMC Entertainment in a report on Tuesday, September 15th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.25.

Shares of AMC stock opened at $2.49 on Thursday. AMC Entertainment has a 1 year low of $1.95 and a 1 year high of $10.35. The firm has a fifty day moving average price of $3.80 and a 200-day moving average price of $4.63. The company has a market cap of $272.20 million, a price-to-earnings ratio of -0.09 and a beta of 2.08.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Saturday, November 7th. The company reported ($5.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.95) by ($0.75). AMC Entertainment had a negative net margin of 75.33% and a negative return on equity of 28.65%. The business had revenue of $119.50 million for the quarter, compared to the consensus estimate of $225.99 million. During the same period in the previous year, the firm earned ($0.53) EPS. The company’s revenue was down 90.9% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its stake in AMC Entertainment by 24.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,236 shares of the company’s stock worth $61,000 after purchasing an additional 2,771 shares in the last quarter. Cim Investment Mangement Inc. lifted its stake in AMC Entertainment by 20.5% in the 2nd quarter. Cim Investment Mangement Inc. now owns 21,556 shares of the company’s stock worth $92,000 after purchasing an additional 3,662 shares in the last quarter. California Public Employees Retirement System lifted its stake in AMC Entertainment by 4.0% in the 2nd quarter. California Public Employees Retirement System now owns 118,679 shares of the company’s stock worth $509,000 after purchasing an additional 4,534 shares in the last quarter. Private Advisor Group LLC raised its position in shares of AMC Entertainment by 74.0% during the 3rd quarter. Private Advisor Group LLC now owns 12,080 shares of the company’s stock valued at $57,000 after buying an additional 5,139 shares in the last quarter. Finally, Lido Advisors LLC purchased a new stake in shares of AMC Entertainment during the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 23.36% of the company’s stock.

About AMC Entertainment

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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