Analysts Expect AMC Entertainment Holdings, Inc. (AMC) Will Post Quarterly Sales of $1.17 Billion
Wall Street brokerages forecast that AMC Entertainment Holdings, Inc. (NYSE:AMC) will announce $1.17 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for AMC Entertainment Holdings’ earnings, with estimates ranging from $1.14 billion to $1.19 billion. AMC Entertainment Holdings posted sales of $779.77 million in the same quarter last year, which suggests a positive year over year growth rate of 50%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that AMC Entertainment Holdings will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $5.11 billion to $5.18 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.40 billion per share, with estimates ranging from $5.34 billion to $5.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow AMC Entertainment Holdings.
AMC Entertainment Holdings (NYSE:AMC) last issued its earnings results 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 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 analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 57.3% on a year-over-year basis.
AMC has been the subject of several recent analyst reports. Citigroup Inc. dropped their price objective on shares of AMC Entertainment Holdings from $36.00 to $35.00 and set a “buy” rating for the company in a report on Friday, June 9th. MKM Partners reaffirmed a “buy” rating and set a $36.00 price objective (down previously from $45.00) on shares of AMC Entertainment Holdings in a report on Friday, June 9th. Credit Suisse Group AG dropped their price objective on shares of AMC Entertainment Holdings from $26.00 to $20.00 and set an “underperform” rating for the company in a report on Friday, June 23rd. BidaskClub cut shares of AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Finally, Loop Capital reissued a “buy” rating and set a $39.00 price target on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. Three equities 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.39.
AMC Entertainment Holdings (AMC) opened at 16.05 on Friday. The firm’s market capitalization is $2.10 billion. AMC Entertainment Holdings has a 52 week low of $12.05 and a 52 week high of $35.65. The firm has a 50-day moving average price of $14.49 and a 200-day moving average price of $22.23.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Monday, September 11th were given a dividend of $0.20 per share. 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 4.98%. AMC Entertainment Holdings’s dividend payout ratio is -125.00%.
AMC Entertainment Holdings declared that its Board of Directors has authorized 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 repurchase 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.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jack Qunyao Gao acquired 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $13.47 per share, for a total transaction of $94,290.00. Following the completion of the acquisition, the director now owns 10,500 shares of the company’s stock, valued at $141,435. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 62,000 shares of company stock worth $896,940. Insiders own 0.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of AMC Entertainment Holdings during the first quarter worth $141,000. Pacer Advisors Inc. acquired a new stake in shares of AMC Entertainment Holdings during the first quarter worth $157,000. Seven Eight Capital LP acquired a new stake in shares of AMC Entertainment Holdings during the second quarter worth $125,000. Great West Life Assurance Co. Can raised its holdings in shares of AMC Entertainment Holdings by 241.8% during the first 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 during the period. Finally, BNP Paribas Arbitrage SA raised 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 acquiring an additional 6,055 shares during the period. Institutional investors and hedge funds own 46.99% of the company’s stock.
WARNING: “Analysts Expect AMC Entertainment Holdings, Inc. (AMC) Will Post Quarterly Sales of $1.17 Billion” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/06/analysts-expect-amc-entertainment-holdings-inc-amc-will-post-quarterly-sales-of-1-17-billion.html.
AMC Entertainment Holdings Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AMC Entertainment Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Entertainment Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.