B. Riley Reaffirms Buy Rating for AMC Entertainment Holdings, Inc. (AMC)
AMC Entertainment Holdings, Inc. (NYSE:AMC)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a report issued on Saturday. They presently have a $32.50 price target on the stock. B. Riley’s price target suggests a potential upside of 100.00% from the company’s previous close.
The analysts wrote, “We are not making any meaningful changes to our 2017/2018 estimates after already adjusting our model last week and are reiterating our Buy rating and $32.50 price target. Key Points Q2 Results In‐Line with Pre‐Announcement. Revenues came in at $1.202B compared to RILY/consensus estimates of $1.203B/$1.222B (as some analysts in consensus did not adjust their estimates following the pre‐announcement early last week).””
AMC has been the topic of several other reports. BidaskClub downgraded AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Zacks Investment Research downgraded AMC Entertainment Holdings from a “strong-buy” rating to a “hold” rating in a report on Monday, May 1st. FBR & Co reduced their target price on AMC Entertainment Holdings from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, May 9th. MKM Partners reissued a “buy” rating and issued a $36.00 target price (down from $45.00) on shares of AMC Entertainment Holdings in a report on Friday, June 9th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $30.00 target price (down from $35.00) on shares of AMC Entertainment Holdings in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $31.03.
Shares of AMC Entertainment Holdings (NYSE:AMC) opened at 16.25 on Friday. The company has a 50-day moving average price of $22.18 and a 200 day moving average price of $27.80. AMC Entertainment Holdings has a 52-week low of $15.50 and a 52-week high of $35.65. The firm has a market capitalization of $2.12 billion, a PE ratio of 18.55 and a beta of 1.31.
AMC Entertainment Holdings (NYSE:AMC) last announced its earnings results on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of $0.06 by $1.41. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.61% and a negative net margin of 2.49%. The firm’s revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Analysts expect that AMC Entertainment Holdings will post ($1.03) EPS for the current fiscal year.
AMC Entertainment Holdings announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 58% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other AMC Entertainment Holdings news, CEO Adam M. Aron bought 10,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was bought at an average price of $24.72 per share, for a total transaction of $247,200.00. Following the transaction, the chief executive officer now owns 90,426 shares of the company’s stock, valued at approximately $2,235,330.72. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin M. Connor bought 4,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were acquired at an average price of $23.52 per share, with a total value of $94,080.00. Following the transaction, the senior vice president now directly owns 40,705 shares in the company, valued at approximately $957,381.60. The disclosure for this purchase can be found here. Insiders own 0.80% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of AMC Entertainment Holdings during the first quarter valued at approximately $141,000. Pacer Advisors Inc. acquired a new stake in shares of AMC Entertainment Holdings during the first quarter valued at approximately $157,000. BNP Paribas Arbitrage SA boosted its stake in shares of AMC Entertainment Holdings by 574.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after buying an additional 6,055 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of AMC Entertainment Holdings by 1,837.8% in the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock valued at $163,000 after buying an additional 6,800 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of AMC Entertainment Holdings by 241.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock valued at $174,000 after buying an additional 3,932 shares during the last quarter. Institutional investors own 42.02% of the company’s stock.
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.
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