AMC Entertainment Holdings Inc (AMC) Price Target Lowered to $40.00 at Wedbush
AMC Entertainment Holdings Inc (NYSE:AMC) had its price target reduced by research analysts at Wedbush from $41.00 to $40.00 in a research report issued to clients and investors on Monday. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 30.72% from the stock’s previous close.
The analysts wrote, “The Wedbush View: The recently completed Carmike and Odeon-UCI transactions should drive substantial EBITDA accretion. 2017 will be a transition year, as AMC renovates theaters, completes the Nordic acquisition and integrates Carmike and Odeon. Our 2017 EBITDA estimate reflects growth of $390 million, with around half from Carmike and the balance split between Odeon and solid box office growth plus synergies. Nordic should be accretive, and we will revise our model at closing.””
AMC has been the subject of several other research reports. Zacks Investment Research cut shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, January 25th. Credit Suisse Group AG cut shares of AMC Entertainment Holdings from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, January 31st. Benchmark Co. lifted their price target on shares of AMC Entertainment Holdings from $41.09 to $42.72 and gave the stock a “buy” rating in a research report on Thursday, December 1st. MKM Partners reiterated a “buy” rating and set a $45.00 price target on shares of AMC Entertainment Holdings in a research report on Wednesday, January 18th. Finally, B. Riley reiterated a “buy” rating and set a $47.50 price target on shares of AMC Entertainment Holdings in a research report on Sunday, February 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $36.39.
This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/03/20/amc-entertainment-holdings-inc-amc-price-target-lowered-to-40-00-at-wedbush.html
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.11. The firm earned $926.10 million during the quarter, compared to analysts’ expectations of $817.33 million. AMC Entertainment Holdings had a net margin of 4.02% and a return on equity of 7.95%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Monday, March 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 9th. AMC Entertainment Holdings’s payout ratio is 63.49%.
Your IP Address:
In other news, CEO Adam M. Aron acquired 31,747 shares of AMC Entertainment Holdings stock in a transaction that occurred on Monday, February 13th. The shares were acquired at an average price of $31.50 per share, with a total value of $1,000,030.50. Following the purchase, the chief executive officer now directly owns 51,747 shares of the company’s stock, valued at $1,630,030.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMC. Blackstone Group L.P. raised its position in AMC Entertainment Holdings by 167.8% in the third quarter. Blackstone Group L.P. now owns 23,831 shares of the company’s stock valued at $741,000 after buying an additional 14,931 shares during the last quarter. Arrowgrass Capital Partners US LP purchased a new position in AMC Entertainment Holdings during the third quarter valued at $1,043,000. CQS Cayman LP purchased a new position in AMC Entertainment Holdings during the third quarter valued at $2,176,000. Convergence Investment Partners LLC raised its position in AMC Entertainment Holdings by 112.3% in the third quarter. Convergence Investment Partners LLC now owns 25,650 shares of the company’s stock valued at $797,000 after buying an additional 13,570 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in AMC Entertainment Holdings by 48.9% in the third quarter. Oppenheimer & Co. Inc. now owns 190,350 shares of the company’s stock valued at $5,918,000 after buying an additional 62,500 shares during the last quarter. 24.70% of the stock is currently owned by institutional investors and hedge funds.
About AMC Entertainment Holdings
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
Receive News & Ratings for AMC Entertainment Holdings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Entertainment Holdings Inc and related companies with MarketBeat.com's FREE daily email newsletter.