Q4 2018 EPS Estimates for AMC Entertainment Holdings, Inc. Cut by Wedbush (AMC)
AMC Entertainment Holdings, Inc. (NYSE:AMC) – Stock analysts at Wedbush lowered their Q4 2018 earnings per share estimates for shares of AMC Entertainment Holdings in a report issued on Monday. Wedbush analyst M. Pachter now expects that the company will earn $0.48 per share for the quarter, down from their previous forecast of $0.58. Wedbush currently has a “Buy” rating and a $22.75 price target on the stock.
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 Thomson Reuters’ 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 the consensus estimate of $1.22 billion. During the same quarter last year, the company posted $0.24 EPS. The company’s quarterly revenue was up 57.3% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Q4 2018 EPS Estimates for AMC Entertainment Holdings, Inc. Cut by Wedbush (AMC)” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/10/11/q4-2018-eps-estimates-for-amc-entertainment-holdings-inc-cut-by-wedbush-amc.html.
AMC has been the subject of a number of other research reports. Loop Capital reaffirmed a “buy” rating and set a $33.00 price objective (down previously from $39.00) on shares of AMC Entertainment Holdings in a research report on Wednesday, August 2nd. Benchmark Co. lowered 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 Tuesday, October 3rd. Piper Jaffray Companies set a $25.00 price objective on AMC Entertainment Holdings and gave the company an “overweight” rating in a research report on Sunday, August 6th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $21.00 price objective (down previously from $30.00) on shares of AMC Entertainment Holdings in a research report on Monday, September 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.39.
Shares of AMC Entertainment Holdings (NYSE:AMC) traded up 0.542% during midday trading on Wednesday, reaching $13.925. The company had a trading volume of 1,439,384 shares. The company’s market capitalization is $766.98 million. The company has a 50-day moving average price of $14.60 and a 200 day moving average price of $21.76. AMC Entertainment Holdings has a one year low of $12.05 and a one year high of $35.65.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of AMC Entertainment Holdings by 59.8% in the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock worth $152,228,000 after acquiring an additional 1,811,552 shares during the period. Schroder Investment Management Group grew its holdings in shares of AMC Entertainment Holdings by 409.9% in the second quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock worth $91,456,000 after acquiring an additional 3,108,645 shares during the period. BlackRock Inc. grew its holdings in shares of AMC Entertainment Holdings by 46,484.0% in the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after acquiring an additional 3,344,988 shares during the period. Janus Henderson Group PLC bought a new stake in shares of AMC Entertainment Holdings in the second quarter worth $63,789,000. Finally, Janus Capital Management LLC grew its holdings in shares of AMC Entertainment Holdings by 0.3% in the first quarter. Janus Capital Management LLC now owns 2,417,897 shares of the company’s stock worth $76,043,000 after acquiring an additional 8,318 shares during the period. 46.99% of the stock is owned by institutional investors.
In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of AMC Entertainment Holdings stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam M. Aron acquired 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $15.79 per share, with a total value of $552,650.00. Following the acquisition, the chief executive officer now directly owns 125,426 shares of the company’s stock, valued at $1,980,476.54. The disclosure for this purchase can be found here. In the last three months, insiders acquired 62,000 shares of company stock valued at $896,940. Corporate insiders own 0.80% of the company’s stock.
AMC Entertainment Holdings announced that its Board of Directors has approved a stock buyback program on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 58% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date was Friday, September 8th. AMC Entertainment Holdings’s payout ratio is -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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