AMC Entertainment Holdings, Inc. (NYSE:AMC) to Post Q1 2024 Earnings of ($0.62) Per Share, Wedbush Forecasts

AMC Entertainment Holdings, Inc. (NYSE:AMC) – Research analysts at Wedbush lowered their Q1 2024 EPS estimates for shares of AMC Entertainment in a report released on Monday, April 29th. Wedbush analyst A. Reese now anticipates that the company will post earnings of ($0.62) per share for the quarter, down from their previous forecast of ($0.60). Wedbush currently has a “Neutral” rating and a $4.00 target price on the stock. The consensus estimate for AMC Entertainment’s current full-year earnings is ($1.61) per share. Wedbush also issued estimates for AMC Entertainment’s FY2024 earnings at ($0.87) EPS, Q1 2025 earnings at ($0.36) EPS, FY2025 earnings at ($0.40) EPS and FY2026 earnings at ($0.16) EPS.

Separately, B. Riley reduced their price objective on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $5.95.

AMC Entertainment Price Performance

AMC Entertainment stock opened at $2.98 on Wednesday. The firm’s 50 day simple moving average is $3.73 and its 200-day simple moving average is $5.54. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $62.30. The company has a market cap of $783.26 million, a P/E ratio of -1.27 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last released its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion.

Hedge Funds Weigh In On AMC Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in AMC Entertainment by 48.3% during the fourth quarter. Vanguard Group Inc. now owns 20,187,662 shares of the company’s stock worth $123,548,000 after acquiring an additional 6,577,228 shares during the period. Norges Bank acquired a new position in AMC Entertainment during the 4th quarter worth about $12,605,000. Quadrature Capital Ltd lifted its position in AMC Entertainment by 374.1% during the 4th quarter. Quadrature Capital Ltd now owns 818,077 shares of the company’s stock worth $5,003,000 after buying an additional 645,541 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in AMC Entertainment by 935.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 814,308 shares of the company’s stock worth $6,506,000 after buying an additional 735,666 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in AMC Entertainment during the 3rd quarter valued at about $5,582,000. Institutional investors own 28.80% of the company’s stock.

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.