AMC Entertainment Holdings, Inc. (AMC) Expected to Post Earnings of -$0.28 Per Share
Equities analysts forecast that AMC Entertainment Holdings, Inc. (NYSE:AMC) will report earnings of ($0.28) per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for AMC Entertainment Holdings’ earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.46). AMC Entertainment Holdings reported earnings per share of $0.31 during the same quarter last year, which indicates a negative year over year growth rate of 190.3%. The company is scheduled to announce its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that AMC Entertainment Holdings will report full year earnings of ($1.04) per share for the current year, with EPS estimates ranging from ($1.14) to ($0.95). For the next fiscal year, analysts forecast that the company will post earnings of $0.58 per share, with EPS estimates ranging from $0.50 to $0.74. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover AMC Entertainment Holdings.
AMC Entertainment Holdings (NYSE:AMC) last announced its 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). 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 net margin of 2.49% and a negative return on equity of 3.44%. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share.
AMC has been the subject of several research analyst reports. Loop Capital reiterated a “buy” rating and set a $33.00 target price (down from $39.00) on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Benchmark Co. lowered shares of AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of 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 price target on shares of AMC Entertainment Holdings and gave the stock an “overweight” rating in a research report on Sunday, August 6th. Finally, Citigroup Inc. restated a “buy” rating and set a $21.00 price objective (down previously from $30.00) on shares of AMC Entertainment Holdings in a report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.90.
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In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of AMC Entertainment Holdings stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $6.09, for a total transaction of $73,080,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam M. Aron purchased 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average cost of $15.79 per share, with a total value of $552,650.00. Following the completion of the acquisition, the chief executive officer now directly owns 125,426 shares in the company, valued at $1,980,476.54. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 62,000 shares of company stock worth $896,940. 0.80% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its stake in AMC Entertainment Holdings by 8.3% during the second 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 last quarter. Seven Eight Capital LP acquired a new stake in shares of AMC Entertainment Holdings during the second quarter worth approximately $125,000. Pacer Advisors Inc. increased its holdings in shares of AMC Entertainment Holdings by 12.0% during the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after buying an additional 601 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of AMC Entertainment Holdings by 574.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after buying an additional 6,055 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of AMC Entertainment Holdings by 1,837.8% during the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock worth $163,000 after buying an additional 6,800 shares in the last quarter. Hedge funds and other institutional investors own 46.99% of the company’s stock.
AMC Entertainment Holdings (AMC) traded down 1.415% during mid-day trading on Wednesday, hitting $15.675. 882,948 shares of the stock were exchanged. The company has a 50-day moving average price of $14.34 and a 200-day moving average price of $22.32. AMC Entertainment Holdings has a one year low of $12.05 and a one year high of $35.65. The company’s market cap is $2.05 billion.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Monday, September 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.03%. AMC Entertainment Holdings’s payout ratio is presently -125.00%.
AMC Entertainment Holdings declared that its board has approved a stock buyback program on Thursday, August 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 58% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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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