Analysts Expect AMC Entertainment Holdings, Inc. (AMC) Will Announce Quarterly Sales of $1.17 Billion
Analysts expect that AMC Entertainment Holdings, Inc. (NYSE:AMC) will post $1.17 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for AMC Entertainment Holdings’ earnings, with the lowest sales estimate coming in at $1.14 billion and the highest estimate coming in at $1.19 billion. AMC Entertainment Holdings reported sales of $779.77 million in the same quarter last year, which would suggest a positive year over year growth rate of 50%. The company is scheduled to issue its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that AMC Entertainment Holdings will report full-year sales of $1.17 billion for the current year, with estimates ranging from $5.11 billion to $5.18 billion. For the next year, analysts anticipate that the firm will report sales of $5.44 billion per share, with estimates ranging from $5.34 billion to $5.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover AMC Entertainment Holdings.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings data on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 57.3% compared to the same quarter last year.
AMC has been the topic of a number of research reports. Zacks Investment Research downgraded AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, June 7th. Citigroup Inc. cut their price objective on AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, June 9th. MKM Partners restated a “buy” rating and issued a $36.00 price objective (down from $45.00) on shares of AMC Entertainment Holdings in a report on Friday, June 9th. Credit Suisse Group cut their price objective on AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating on the stock in a report on Friday, June 23rd. Finally, BidaskClub downgraded AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Three 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 company. AMC Entertainment Holdings has a consensus rating of “Hold” and a consensus price target of $28.76.
In other AMC Entertainment Holdings news, CEO Adam M. Aron acquired 35,000 shares of the stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of $15.79 per share, for a total transaction of $552,650.00. Following the purchase, the chief executive officer now directly owns 125,426 shares in the company, valued at $1,980,476.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack Qunyao Gao acquired 7,000 shares of the stock in a transaction on Wednesday, August 16th. The shares were acquired at an average price of $13.47 per share, with a total value of $94,290.00. Following the purchase, the director now owns 10,500 shares in the company, valued at $141,435. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 62,000 shares of company stock valued at $896,940. 0.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AMC. Teachers Advisors LLC grew its stake in AMC Entertainment Holdings by 42.5% during the 4th quarter. Teachers Advisors LLC now owns 49,693 shares of the company’s stock valued at $1,672,000 after purchasing an additional 14,811 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of AMC Entertainment Holdings by 897.0% in the 1st quarter. Russell Investments Group Ltd. now owns 80,049 shares of the company’s stock worth $2,517,000 after acquiring an additional 72,020 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of AMC Entertainment Holdings by 70.4% in the 1st quarter. Wells Fargo & Company MN now owns 48,634 shares of the company’s stock worth $1,529,000 after acquiring an additional 20,090 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of AMC Entertainment Holdings by 241.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after acquiring an additional 3,932 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of AMC Entertainment Holdings by 15.5% in the 1st quarter. American Century Companies Inc. now owns 202,246 shares of the company’s stock worth $6,361,000 after acquiring an additional 27,140 shares in the last quarter. Hedge funds and other institutional investors own 46.96% of the company’s stock.
AMC Entertainment Holdings (AMC) opened at 16.95 on Friday. The stock’s 50 day moving average price is $14.70 and its 200-day moving average price is $23.68. AMC Entertainment Holdings has a 12 month low of $12.05 and a 12 month high of $35.65. The firm’s market capitalization is $2.22 billion.
AMC Entertainment Holdings announced that its Board of Directors has authorized a share 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 often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 4.72%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
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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