AMC Entertainment Holdings, Inc. (AMC) to Post Q3 2017 Earnings of ($0.38) Per Share, Barrington Research Forecasts
AMC Entertainment Holdings, Inc. (NYSE:AMC) – Stock analysts at Barrington Research dropped their Q3 2017 earnings per share estimates for AMC Entertainment Holdings in a research note issued on Wednesday. Barrington Research analyst J. Goss now expects that the company will post earnings of ($0.38) per share for the quarter, down from their prior estimate of ($0.14). Barrington Research currently has a “Outperform” rating and a $23.00 target price on the stock. Barrington Research also issued estimates for AMC Entertainment Holdings’ FY2017 earnings at ($1.35) EPS.
Several other analysts have also weighed in on AMC. Credit Suisse Group lowered their price objective on 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 lowered AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Loop Capital reissued a “buy” rating and issued a $39.00 price objective on shares of AMC Entertainment Holdings in a report on Monday, July 10th. Zacks Investment Research lowered AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Barclays PLC lowered AMC Entertainment Holdings from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $31.00 to $25.00 in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $26.46.
Shares of AMC Entertainment Holdings (NYSE AMC) opened at 14.25 on Friday. AMC Entertainment Holdings has a 12 month low of $12.05 and a 12 month high of $35.65. The company has a 50 day moving average price of $14.78 and a 200-day moving average price of $21.04. The firm’s market capitalization is $1.86 billion.
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 analysts’ consensus estimates of $0.06 by ($1.41). The firm 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 firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share.
The firm also recently disclosed 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 annualized dividend and a dividend yield of 5.61%. AMC Entertainment Holdings’s dividend payout ratio is presently -125.00%.
AMC Entertainment Holdings declared that its Board of Directors has initiated a stock buyback program on Thursday, August 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 58% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was 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 is available through this link. Also, CEO Adam M. Aron acquired 35,000 shares of AMC Entertainment Holdings stock in a transaction dated Thursday, September 14th. The shares were acquired at an average price of $15.79 per share, with a total value of $552,650.00. Following the completion of the transaction, the chief executive officer now owns 125,426 shares of the company’s stock, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 62,000 shares of company stock valued at $896,940. Insiders own 0.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of AMC Entertainment Holdings by 59.8% during the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock worth $152,228,000 after buying an additional 1,811,552 shares during the period. Schroder Investment Management Group boosted its position in shares of AMC Entertainment Holdings by 409.9% during the second quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock worth $91,456,000 after buying an additional 3,108,645 shares during the period. BlackRock Inc. boosted its position in shares of AMC Entertainment Holdings by 46,484.0% during the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after buying an additional 3,344,988 shares during the period. Janus Henderson Group PLC acquired a new position in shares of AMC Entertainment Holdings during the second quarter worth approximately $63,789,000. Finally, Janus Capital Management LLC boosted its position in shares of AMC Entertainment Holdings by 0.3% during the first quarter. Janus Capital Management LLC now owns 2,417,897 shares of the company’s stock worth $76,043,000 after buying an additional 8,318 shares during the period. Institutional investors and hedge funds own 47.02% of the company’s stock.
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.
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