AMC Entertainment Holdings, Inc. (NYSE:AMC) announced a quarterly dividend on Tuesday, October 31st, Wall Street Journal reports. Stockholders of record on Monday, December 4th will be given a dividend of 0.20 per share on Monday, December 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend is Friday, December 1st.

AMC Entertainment Holdings has a payout ratio of -72.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect AMC Entertainment Holdings to earn $0.44 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 181.8%.

AMC Entertainment Holdings (NYSE AMC) remained flat at $13.90 during midday trading on Tuesday. 2,305,410 shares of the company traded hands. The company’s 50-day moving average price is $14.82 and its 200 day moving average price is $20.05. AMC Entertainment Holdings has a 52 week low of $12.05 and a 52 week high of $35.65. The firm’s market cap is $1.82 billion.

AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings data on Friday, August 4th. The company reported ($1.35) 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 business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, equities research analysts forecast that AMC Entertainment Holdings will post ($1.12) EPS for the current year.

Several research analysts have recently commented on AMC shares. Loop Capital reissued a “buy” rating and set 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 research note on Tuesday, July 11th. Credit Suisse Group cut their target price on AMC Entertainment Holdings from $20.00 to $17.00 and set an “underperform” rating for the company in a research note on Tuesday, July 18th. Barclays PLC lowered AMC Entertainment Holdings from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $31.00 to $25.00 in a research note on Wednesday, July 19th. Finally, William Blair initiated coverage on AMC Entertainment Holdings in a research note on Friday, July 21st. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.46.

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In related news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the company’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 at this link. Also, CEO Adam M. Aron bought 35,000 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now 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 have bought 62,000 shares of company stock valued at $896,940. Insiders own 0.80% of the company’s stock.

AMC Entertainment Holdings declared that its Board of Directors has approved 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 reacquire up to 58% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management 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.

Dividend History for AMC Entertainment Holdings (NYSE:AMC)

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