-$0.26 EPS Expected for AMC Entertainment Holdings, Inc. (AMC) This Quarter
Wall Street analysts expect that AMC Entertainment Holdings, Inc. (NYSE:AMC) will report ($0.26) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for AMC Entertainment Holdings’ earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.32). AMC Entertainment Holdings reported earnings of $0.31 per share in the same quarter last year, which would indicate a negative year over year growth rate of 183.9%. The firm is scheduled to issue its next earnings results on Monday, November 6th.
On average, analysts expect that AMC Entertainment Holdings will report full-year earnings of ($1.07) per share for the current fiscal year, with EPS estimates ranging from ($1.14) to ($0.98). For the next fiscal year, analysts expect that the business will report earnings of $0.78 per share, with EPS estimates ranging from $0.50 to $1.32. Zacks’ EPS averages are an average based on a survey of analysts that follow AMC Entertainment Holdings.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The company’s revenue was up 57.3% compared to the same quarter last year.
AMC has been the subject of several research analyst reports. BidaskClub downgraded shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Barclays PLC set a $16.00 price objective on shares of AMC Entertainment Holdings and gave the company a “hold” rating in a research note on Tuesday, August 29th. MKM Partners reiterated a “buy” rating and set a $36.00 target price (down previously from $45.00) on shares of AMC Entertainment Holdings in a research note on Friday, June 9th. Zacks Investment Research downgraded shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $30.00 target price (down previously from $35.00) on shares of AMC Entertainment Holdings in a research note on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. AMC Entertainment Holdings presently has a consensus rating of “Hold” and a consensus price target of $28.76.
AMC Entertainment Holdings (NYSE:AMC) traded up 5.61% during mid-day trading on Friday, hitting $16.95. The stock had a trading volume of 6,673,207 shares. The firm has a 50-day moving average of $14.80 and a 200-day moving average of $23.79. AMC Entertainment Holdings has a 52-week low of $12.05 and a 52-week high of $35.65. The stock’s market cap is $2.22 billion.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.72%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
AMC Entertainment Holdings declared that its Board of Directors has authorized a share buyback plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 58% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
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In other AMC Entertainment Holdings news, CEO Adam M. Aron bought 35,000 shares of AMC Entertainment Holdings stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $15.79 per share, for a total transaction of $552,650.00. Following the acquisition, the chief executive officer now owns 125,426 shares of the company’s stock, valued at approximately $1,980,476.54. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Jack Qunyao Gao bought 7,000 shares of AMC Entertainment Holdings stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average price of $13.47 per share, for a total transaction of $94,290.00. Following the acquisition, the director now directly owns 10,500 shares in the company, valued at approximately $141,435. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 62,000 shares of company stock worth $896,940. 0.80% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Fondren Management LP purchased a new stake in AMC Entertainment Holdings during the 2nd quarter worth $1,138,000. Davidson Kempner Capital Management LP purchased a new stake in AMC Entertainment Holdings during the 2nd quarter worth $31,850,000. Cetera Investment Advisers purchased a new stake in AMC Entertainment Holdings during the 2nd quarter worth $619,000. Koch Industries Inc. purchased a new stake in AMC Entertainment Holdings during the 2nd quarter worth $276,000. Finally, Ameritas Investment Partners Inc. increased its stake in AMC Entertainment Holdings by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock worth $110,000 after buying an additional 372 shares during the period. 46.96% of the stock is currently owned by hedge funds and other 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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