-$0.34 EPS Expected for AMC Entertainment Holdings, Inc. (AMC) This Quarter
Analysts expect AMC Entertainment Holdings, Inc. (NYSE:AMC) to report earnings per share (EPS) of ($0.34) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for AMC Entertainment Holdings’ earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.21). AMC Entertainment Holdings reported earnings per share of $0.31 in the same quarter last year, which would indicate a negative year-over-year growth rate of 209.7%. The business is expected to report its next quarterly earnings results after the market closes on Monday, November 6th.
According to Zacks, analysts expect that AMC Entertainment Holdings will report full-year earnings of ($1.11) per share for the current year, with EPS estimates ranging from ($1.35) to ($0.95). For the next fiscal year, analysts forecast that the firm will post earnings of $0.49 per share, with EPS estimates ranging from $0.40 to $0.57. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover AMC Entertainment Holdings.
AMC Entertainment Holdings (NYSE:AMC) last issued its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $0.24 EPS. The business’s quarterly revenue was up 57.3% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of AMC Entertainment Holdings from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley set a $31.00 price objective on shares of AMC Entertainment Holdings and gave the company a “buy” rating in a research note on Wednesday, October 18th. Credit Suisse Group cut their price objective on shares of AMC Entertainment Holdings from $14.00 to $12.00 and set an “underperform” rating for the company in a research note on Thursday, September 28th. MKM Partners reaffirmed a “buy” rating and issued a $28.00 price objective on shares of AMC Entertainment Holdings in a research note on Monday, September 18th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $21.00 price objective (down previously from $30.00) on shares of AMC Entertainment Holdings in a research note on Monday, September 11th. Three investment 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. The stock has an average rating of “Hold” and an average price target of $26.46.
In other news, Director Jack Qunyao Gao acquired 20,000 shares of AMC Entertainment Holdings stock in a transaction on Friday, August 18th. The stock was acquired at an average cost of $12.50 per share, for a total transaction of $250,000.00. Following the purchase, the director now owns 30,500 shares in the company, valued at $381,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s 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 disclosure for this sale can be found here. Over 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 company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Virginia Retirement Systems ET AL increased its stake in AMC Entertainment Holdings by 1.9% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 10,700 shares of the company’s stock valued at $243,000 after purchasing an additional 200 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of AMC Entertainment Holdings by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 13,118 shares of the company’s stock valued at $301,000 after acquiring an additional 337 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of AMC Entertainment Holdings by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock valued at $110,000 after acquiring an additional 372 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of AMC Entertainment Holdings by 12.0% during the 2nd quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock valued at $127,000 after acquiring an additional 601 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of AMC Entertainment Holdings by 241.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock valued at $174,000 after acquiring an additional 3,932 shares during the last quarter. Institutional investors and hedge funds own 47.02% of the company’s stock.
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Shares of AMC Entertainment Holdings (NYSE:AMC) opened at 14.00 on Monday. AMC Entertainment Holdings has a 12 month low of $12.05 and a 12 month high of $35.65. The firm’s market cap is $1.83 billion. The firm has a 50-day moving average of $14.80 and a 200-day moving average of $20.91.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th were paid 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 yield of 5.71%. AMC Entertainment Holdings’s dividend payout ratio is currently -125.00%.
AMC Entertainment Holdings announced that its board has authorized a share repurchase plan on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
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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