AMC Entertainment Holdings, Inc. (NYSE:AMC) PT Lowered to $22.00
AMC Entertainment Holdings, Inc. (NYSE:AMC) had its price target dropped by stock analysts at Royal Bank Of Canada from $30.00 to $22.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 36.65% from the company’s previous close.
A number of other equities research analysts have also weighed in on AMC. B. Riley upgraded AMC Entertainment Holdings to a “buy” rating and set a $49.50 price objective for the company in a research note on Tuesday, May 9th. ValuEngine lowered AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies set a $25.00 price objective on AMC Entertainment Holdings and gave the company an “overweight” rating in a research note on Sunday. Zacks Investment Research upgraded AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Wedbush restated a “buy” rating on shares of AMC Entertainment Holdings in a research note on Tuesday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.96.
AMC Entertainment Holdings (NYSE:AMC) traded up 1.708% during midday trading on Tuesday, reaching $16.375. The company had a trading volume of 196,373 shares. The firm has a market capitalization of $2.14 billion, a PE ratio of 18.693 and a beta of 1.31. The firm’s 50-day moving average price is $22.18 and its 200 day moving average price is $27.80. AMC Entertainment Holdings has a 12 month low of $16.10 and a 12 month high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last posted its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $1.41. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.61%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business posted $0.24 EPS. AMC Entertainment Holdings’s quarterly revenue was up 57.3% compared to the same quarter last year. Equities analysts anticipate that AMC Entertainment Holdings will post ($1.07) earnings per share for the current fiscal year.
AMC Entertainment Holdings declared that its board has approved a share repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 58% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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In other news, CEO Adam M. Aron bought 10,000 shares of AMC Entertainment Holdings stock in a transaction on Friday, June 2nd. The shares were bought at an average price of $24.72 per share, with a total value of $247,200.00. Following the acquisition, the chief executive officer now directly owns 90,426 shares in the company, valued at approximately $2,235,330.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin M. Connor bought 4,000 shares of AMC Entertainment Holdings stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $23.52 per share, for a total transaction of $94,080.00. Following the acquisition, the senior vice president now owns 40,705 shares in the company, valued at $957,381.60. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of AMC Entertainment Holdings by 59.8% in the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock valued at $152,228,000 after buying an additional 1,811,552 shares during the period. BlackRock Inc. increased its stake in shares of AMC Entertainment Holdings by 46,484.0% in the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock valued at $105,428,000 after buying an additional 3,344,988 shares during the period. Janus Capital Management LLC increased its stake in shares of AMC Entertainment Holdings by 0.3% in the first quarter. Janus Capital Management LLC now owns 2,417,897 shares of the company’s stock valued at $76,043,000 after buying an additional 8,318 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of AMC Entertainment Holdings during the first quarter valued at about $73,011,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of AMC Entertainment Holdings by 16.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,487,448 shares of the company’s stock valued at $46,780,000 after buying an additional 211,172 shares during the period. 42.02% 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.
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