Wedbush Comments on AMC Entertainment Holdings, Inc.’s Q2 2022 Earnings (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMCGet Rating) – Stock analysts at Wedbush decreased their Q2 2022 EPS estimates for shares of AMC Entertainment in a research report issued to clients and investors on Tuesday, May 10th. Wedbush analyst A. Reese now expects that the company will post earnings of ($0.33) per share for the quarter, down from their previous forecast of ($0.21). Wedbush also issued estimates for AMC Entertainment’s Q3 2022 earnings at ($0.37) EPS, Q4 2022 earnings at ($0.24) EPS, Q1 2023 earnings at ($0.14) EPS, Q2 2023 earnings at ($0.05) EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.35) EPS and FY2024 earnings at ($0.32) EPS.

AMC has been the subject of several other research reports. Zacks Investment Research cut AMC Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. StockNews.com assumed coverage on AMC Entertainment in a report on Thursday, March 31st. They set a “sell” rating for the company. Five investment analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus price target of $17.63.

Shares of NYSE AMC opened at $11.81 on Thursday. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of -5.73 and a beta of 1.71. The business has a 50-day moving average of $17.42 and a 200-day moving average of $23.29. AMC Entertainment has a fifty-two week low of $9.70 and a fifty-two week high of $72.62.

AMC Entertainment (NYSE:AMCGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.02). The firm had revenue of $785.70 million during the quarter, compared to the consensus estimate of $736.23 million. AMC Entertainment’s quarterly revenue was up 429.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.42) EPS.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tobam raised its position in shares of AMC Entertainment by 665.6% in the third quarter. Tobam now owns 251,981 shares of the company’s stock valued at $9,590,000 after buying an additional 219,068 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of AMC Entertainment in the third quarter valued at approximately $609,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of AMC Entertainment by 9.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 121,648 shares of the company’s stock valued at $3,226,000 after buying an additional 10,348 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of AMC Entertainment in the fourth quarter valued at approximately $2,546,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of AMC Entertainment in the third quarter valued at approximately $1,776,000. Institutional investors own 34.20% of the company’s stock.

In other AMC Entertainment news, EVP Elizabeth F. Frank sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $29.91, for a total transaction of $598,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John D. Mcdonald sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 31st. The stock was sold at an average price of $23.91, for a total transaction of $597,750.00. The disclosure for this sale can be found here. Insiders have sold 354,070 shares of company stock valued at $6,664,426 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

AMC Entertainment Company Profile (Get Rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Earnings History and Estimates for AMC Entertainment (NYSE:AMC)

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