AMC Entertainment Holdings, Inc. Expected to Post Q3 2024 Earnings of ($0.01) Per Share (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMC - Free Report) - Equities researchers at B. Riley boosted their Q3 2024 earnings per share (EPS) estimates for shares of AMC Entertainment in a report issued on Thursday, October 3rd. B. Riley analyst E. Wold now expects that the company will post earnings per share of ($0.01) for the quarter, up from their previous forecast of ($0.11). The consensus estimate for AMC Entertainment's current full-year earnings is ($1.36) per share. B. Riley also issued estimates for AMC Entertainment's Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($1.30) EPS, Q1 2025 earnings at ($0.55) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.07) EPS and FY2025 earnings at ($0.44) EPS.

AMC Entertainment (NYSE:AMC - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.43) earnings per share for the quarter, hitting the consensus estimate of ($0.43). The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. AMC Entertainment's quarterly revenue was down 23.1% on a year-over-year basis.

AMC has been the topic of several other reports. Morgan Stanley lowered their target price on shares of AMC Entertainment from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Monday, August 12th. Wedbush reaffirmed a "neutral" rating and issued a $4.00 price target on shares of AMC Entertainment in a research note on Monday, August 5th. Macquarie increased their price objective on shares of AMC Entertainment from $3.50 to $4.00 and gave the stock an "underperform" rating in a research note on Tuesday, July 9th. Finally, Benchmark restated a "hold" rating on shares of AMC Entertainment in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $5.70.

AMC Entertainment Stock Performance

NYSE:AMC traded down $0.25 during mid-day trading on Monday, reaching $4.15. 10,480,127 shares of the company's stock were exchanged, compared to its average volume of 28,545,727. The firm has a market capitalization of $1.23 billion, a PE ratio of -3.46 and a beta of 1.80. AMC Entertainment has a one year low of $2.38 and a one year high of $11.88. The business's fifty day simple moving average is $4.86 and its two-hundred day simple moving average is $4.49.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mayflower Financial Advisors LLC acquired a new stake in AMC Entertainment in the first quarter valued at approximately $37,000. Skylands Capital LLC acquired a new position in AMC Entertainment in the 2nd quarter worth about $50,000. Powell Investment Advisors LLC bought a new position in AMC Entertainment in the first quarter valued at about $55,000. Principal Financial Group Inc. boosted its stake in shares of AMC Entertainment by 50.6% during the first quarter. Principal Financial Group Inc. now owns 20,091 shares of the company's stock valued at $75,000 after purchasing an additional 6,748 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of AMC Entertainment by 9,601.2% during the second quarter. Quarry LP now owns 15,619 shares of the company's stock worth $78,000 after purchasing an additional 15,458 shares during the last quarter. 28.80% of the stock is owned by institutional investors.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.