Cfra Downgrades AMC Entertainment (NYSE:AMC) to Buy

Cfra cut shares of AMC Entertainment (NYSE:AMC) from a strong-buy rating to a buy rating in a report published on Thursday morning, Briefing.com Automated Import reports.

A number of other equities analysts have also recently commented on AMC. Barrington Research reissued a buy rating and issued a $16.00 price target on shares of AMC Entertainment in a research note on Thursday, August 8th. Roth Capital started coverage on shares of AMC Entertainment in a research note on Friday, July 19th. They issued an outperform rating and a $18.00 price objective for the company. Bank of America cut their price objective on shares of AMC Entertainment from $17.00 to $14.00 and set a neutral rating for the company in a research note on Thursday, August 1st. Goldman Sachs Group set a $11.00 price objective on shares of AMC Entertainment and gave the company a hold rating in a research note on Tuesday, October 15th. Finally, Citigroup cut their price objective on shares of AMC Entertainment from $17.00 to $13.00 and set a buy rating for the company in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $15.50.

AMC stock traded down $0.08 during midday trading on Thursday, reaching $9.54. The company had a trading volume of 1,642,884 shares, compared to its average volume of 2,044,226. The company has a debt-to-equity ratio of 7.30, a current ratio of 0.34 and a quick ratio of 0.34. AMC Entertainment has a 1 year low of $8.73 and a 1 year high of $17.07. The company has a market capitalization of $1.02 billion, a P/E ratio of 73.38 and a beta of 0.81. The firm has a 50-day moving average price of $9.80 and a 200-day moving average price of $11.15.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.11). AMC Entertainment had a negative return on equity of 10.94% and a negative net margin of 0.20%. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the firm earned ($0.82) EPS. AMC Entertainment’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that AMC Entertainment will post -0.93 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 8.39%. AMC Entertainment’s dividend payout ratio (DPR) is presently 615.38%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its holdings in AMC Entertainment by 39.3% in the 2nd quarter. Renaissance Technologies LLC now owns 3,493,168 shares of the company’s stock worth $32,591,000 after purchasing an additional 985,100 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of AMC Entertainment by 23.1% in the 2nd quarter. Victory Capital Management Inc. now owns 1,807,308 shares of the company’s stock worth $16,862,000 after acquiring an additional 338,938 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of AMC Entertainment by 15.6% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,111,383 shares of the company’s stock worth $10,369,000 after acquiring an additional 150,000 shares in the last quarter. Zeke Capital Advisors LLC increased its stake in shares of AMC Entertainment by 4,961.7% in the 3rd quarter. Zeke Capital Advisors LLC now owns 946,543 shares of the company’s stock worth $10,128,000 after acquiring an additional 927,843 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its stake in shares of AMC Entertainment by 58.0% in the 3rd quarter. Peregrine Capital Management LLC now owns 745,071 shares of the company’s stock worth $7,972,000 after acquiring an additional 273,635 shares in the last quarter. Institutional investors and hedge funds own 50.00% 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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Analyst Recommendations for AMC Entertainment (NYSE:AMC)

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