AMC Entertainment Holdings, Inc. Expected to Earn Q3 2018 Earnings of $0.04 Per Share (AMC)
AMC Entertainment Holdings, Inc. (NYSE:AMC) – Equities researchers at Barrington Research cut their Q3 2018 EPS estimates for AMC Entertainment Holdings in a research report issued on Wednesday. Barrington Research analyst J. Goss now anticipates that the company will post earnings per share of $0.04 for the quarter, down from their previous forecast of $0.11. Barrington Research has a “Outperform” rating and a $23.00 price objective on the stock.
AMC has been the subject of a number of other reports. Loop Capital reissued a “buy” rating and issued a $33.00 target price (down from $39.00) on shares of AMC Entertainment Holdings in a research report on Wednesday, August 2nd. Benchmark Co. downgraded AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research report on Monday, June 26th. Piper Jaffray Companies set a $25.00 target price on AMC Entertainment Holdings and gave the stock an “overweight” rating in a research report on Sunday, August 6th. Finally, Credit Suisse Group decreased their target price on AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating for the company in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $29.96.
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AMC Entertainment Holdings (NYSE AMC) traded up 0.38% during midday trading on Thursday, reaching $13.35. The company’s stock had a trading volume of 1,976,930 shares. The firm’s market cap is $1.75 billion. The firm has a 50 day moving average of $19.35 and a 200 day moving average of $26.36. AMC Entertainment Holdings has a 52-week low of $12.90 and a 52-week high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last released its earnings results on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $1.41. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The company’s revenue was up 57.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS.
AMC Entertainment Holdings announced that its Board of Directors has initiated a stock buyback program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 58% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Monday, September 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s dividend payout ratio is -125.00%.
In other AMC Entertainment Holdings news, SVP Kevin M. Connor acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was bought at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the purchase, the senior vice president now owns 40,705 shares of the company’s stock, valued at $957,381.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam M. Aron acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average cost of $24.72 per share, with a total value of $247,200.00. Following the purchase, the chief executive officer now directly owns 90,426 shares of the company’s stock, valued at approximately $2,235,330.72. The disclosure for this purchase can be found here. Insiders have purchased 21,000 shares of company stock valued at $435,570 in the last three months. 0.80% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of AMC. Ameritas Investment Partners Inc. acquired a new stake in AMC Entertainment Holdings during the first quarter valued at about $141,000. Pacer Advisors Inc. acquired a new stake in AMC Entertainment Holdings during the first quarter valued at about $157,000. Seven Eight Capital LP acquired a new stake in AMC Entertainment Holdings during the second quarter valued at about $125,000. Great West Life Assurance Co. Can raised its stake in 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 in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in 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 in the last quarter. 43.07% of the stock is owned by institutional investors.
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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