-$0.91 Earnings Per Share Expected for AMC Entertainment Holdings, Inc. (NYSE:AMC) This Quarter

Wall Street brokerages forecast that AMC Entertainment Holdings, Inc. (NYSE:AMC) will announce ($0.91) earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have provided estimates for AMC Entertainment’s earnings, with estimates ranging from ($1.10) to ($0.79). AMC Entertainment posted earnings per share of ($5.44) during the same quarter last year, which indicates a positive year over year growth rate of 83.3%. The company is scheduled to announce its next earnings results on Thursday, August 5th.

According to Zacks, analysts expect that AMC Entertainment will report full-year earnings of ($3.14) per share for the current fiscal year, with EPS estimates ranging from ($3.92) to ($2.65). For the next financial year, analysts forecast that the business will post earnings of ($0.67) per share, with EPS estimates ranging from ($0.78) to ($0.60). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover AMC Entertainment.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Wednesday, May 5th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.30) by ($0.12). The business had revenue of $148.30 million for the quarter, compared to analysts’ expectations of $161.18 million. AMC Entertainment’s revenue was down 84.2% on a year-over-year basis. During the same quarter last year, the company earned ($2.22) earnings per share.

AMC has been the topic of a number of research analyst reports. Loop Capital reissued a “sell” rating and issued a $1.00 price target on shares of AMC Entertainment in a report on Wednesday, April 7th. B. Riley downgraded shares of AMC Entertainment from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Wednesday, May 26th. Finally, Zacks Investment Research raised shares of AMC Entertainment from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a report on Monday. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.83.

AMC traded down $3.25 during mid-day trading on Thursday, reaching $37.53. 1,747,311 shares of the stock were exchanged, compared to its average volume of 95,043,840. The business has a 50 day moving average of $41.06. The stock has a market capitalization of $16.90 billion, a PE ratio of -1.79 and a beta of 1.28. AMC Entertainment has a 1 year low of $1.91 and a 1 year high of $72.62.

In other news, CMO Stephen A. Colanero sold 2,495 shares of the company’s stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $60.84, for a total transaction of $151,795.80. Following the sale, the chief marketing officer now directly owns 91,384 shares in the company, valued at $5,559,802.56. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary Locke sold 1,843 shares of the company’s stock in a transaction dated Monday, June 14th. The shares were sold at an average price of $58.14, for a total value of $107,152.02. Following the sale, the director now owns 17,722 shares in the company, valued at $1,030,357.08. The disclosure for this sale can be found here. Insiders sold a total of 140,415 shares of company stock worth $6,454,999 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of AMC Entertainment by 281.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,900 shares of the company’s stock valued at $30,000 after buying an additional 2,140 shares during the period. Glassman Wealth Services increased its position in shares of AMC Entertainment by 207.6% in the first quarter. Glassman Wealth Services now owns 3,156 shares of the company’s stock worth $32,000 after purchasing an additional 2,130 shares during the last quarter. Golden Green Inc. bought a new position in shares of AMC Entertainment in the second quarter worth approximately $219,000. Sowell Financial Services LLC increased its position in shares of AMC Entertainment by 44.4% in the first quarter. Sowell Financial Services LLC now owns 4,332 shares of the company’s stock worth $39,000 after purchasing an additional 1,332 shares during the last quarter. Finally, US Bancorp DE bought a new position in shares of AMC Entertainment in the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 25.56% 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 March 12, 2021, it operated approximately 1000 theatres and 10,700 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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