AMC Entertainment Holdings, Inc. (NYSE:AMC)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc. in a research report issued on Monday. They currently have a $21.00 price target on the stock, down from their previous price target of $30.00. Citigroup Inc.’s price target would indicate a potential upside of 47.89% from the stock’s current price.
AMC has been the subject of a number of other reports. BidaskClub lowered AMC Entertainment Holdings from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Barclays PLC set a $16.00 price target on AMC Entertainment Holdings and gave the stock a “hold” rating in a research note on Tuesday, August 29th. MKM Partners reissued a “buy” rating and set a $36.00 price target (down from $45.00) on shares of AMC Entertainment Holdings in a research note on Friday, June 9th. Zacks Investment Research lowered AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Credit Suisse Group decreased their price target 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. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $28.76.
Shares of AMC Entertainment Holdings (NYSE AMC) opened at 14.20 on Monday. AMC Entertainment Holdings has a 52-week low of $12.05 and a 52-week high of $35.65. The company has a 50-day moving average price of $15.29 and a 200-day moving average price of $24.03. The company’s market cap is $1.86 billion.
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings data on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $0.24 earnings per share. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% on a year-over-year basis. On average, equities analysts predict that AMC Entertainment Holdings will post ($1.03) EPS for the current year.
AMC Entertainment Holdings declared that its board has approved a stock repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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In other news, Director Jack Qunyao Gao acquired 20,000 shares of AMC Entertainment Holdings stock in a transaction on Friday, August 18th. The shares were bought at an average cost of $12.50 per share, for a total transaction of $250,000.00. Following the acquisition, the director now directly owns 30,500 shares of the company’s stock, valued at approximately $381,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMC. BlackRock Inc. increased its holdings in AMC Entertainment Holdings by 46,484.0% during the 1st quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after purchasing an additional 3,344,988 shares during the period. Schroder Investment Management Group increased its holdings in shares of AMC Entertainment Holdings by 409.9% in the 2nd quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock valued at $91,456,000 after acquiring an additional 3,108,645 shares during the period. Janus Henderson Group PLC purchased a new position in shares of AMC Entertainment Holdings in the 2nd quarter valued at $63,789,000. Point72 Asset Management L.P. purchased a new position in shares of AMC Entertainment Holdings in the 1st quarter valued at $73,011,000. Finally, Canyon Capital Advisors LLC purchased a new position in shares of AMC Entertainment Holdings in the 2nd quarter valued at $44,363,000. Institutional investors own 46.96% 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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