AMC Entertainment Holdings Inc (NYSE:AMC) Expected to Announce Quarterly Sales of $1.51 Billion

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Brokerages expect that AMC Entertainment Holdings Inc (NYSE:AMC) will announce sales of $1.51 billion for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for AMC Entertainment’s earnings. The lowest sales estimate is $1.45 billion and the highest is $1.57 billion. AMC Entertainment posted sales of $1.44 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The company is expected to announce its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that AMC Entertainment will report full-year sales of $5.58 billion for the current financial year, with estimates ranging from $5.53 billion to $5.65 billion. For the next year, analysts expect that the firm will report sales of $5.71 billion, with estimates ranging from $5.62 billion to $5.77 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for AMC Entertainment.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.74). AMC Entertainment had a negative net margin of 0.72% and a negative return on equity of 11.59%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The business’s quarterly revenue was down 13.2% compared to the same quarter last year.

Several equities analysts have issued reports on AMC shares. Barrington Research reaffirmed a “buy” rating on shares of AMC Entertainment in a report on Friday, March 1st. ValuEngine raised shares of AMC Entertainment from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. B. Riley raised shares of AMC Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $20.00 in a report on Monday, April 8th. Benchmark cut their price target on shares of AMC Entertainment from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, May 13th. Finally, TheStreet lowered shares of AMC Entertainment from a “c” rating to a “d+” rating in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. AMC Entertainment has an average rating of “Hold” and a consensus target price of $18.78.

NYSE AMC opened at $10.69 on Thursday. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.33 and a current ratio of 0.33. AMC Entertainment has a 12-month low of $10.65 and a 12-month high of $21.45. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 82.23 and a beta of 1.11.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 7.48%. The ex-dividend date is Friday, June 7th. AMC Entertainment’s dividend payout ratio is currently 615.38%.

In other news, Director Raymond C. Stachowiak purchased 160,559 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $2.73 per share, with a total value of $438,326.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC grew its holdings in shares of AMC Entertainment by 1,038.8% during the first quarter. Advisory Services Network LLC now owns 43,275 shares of the company’s stock valued at $643,000 after buying an additional 39,475 shares during the last quarter. Lombard Odier Asset Management USA Corp purchased a new stake in shares of AMC Entertainment during the first quarter valued at $185,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of AMC Entertainment by 697.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,250 shares of the company’s stock valued at $33,000 after buying an additional 1,968 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of AMC Entertainment by 131.2% during the first quarter. Advisors Asset Management Inc. now owns 473,738 shares of the company’s stock valued at $7,035,000 after buying an additional 268,799 shares during the last quarter. Finally, SEI Investments Co grew its holdings in shares of AMC Entertainment by 2.5% during the first quarter. SEI Investments Co now owns 104,720 shares of the company’s stock valued at $1,555,000 after buying an additional 2,547 shares during the last quarter. 49.23% of the stock is currently owned by hedge funds and other institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2018, it owned, operated, or had interests in 637 theatres with a total of 8,114 screens in the United States; and 369 theatres and 2,977 screens in European markets.

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