AMC Entertainment Holdings’ (AMC) Buy Rating Reiterated at B. Riley
B. Riley reissued their buy rating on shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) in a report published on Tuesday morning, Marketbeat reports. The brokerage currently has a $30.00 target price on the stock, down from their previous target price of $30.50. B. Riley also issued estimates for AMC Entertainment Holdings’ Q4 2017 earnings at $0.37 EPS, FY2017 earnings at ($1.24) EPS, Q1 2018 earnings at $0.12 EPS, Q2 2018 earnings at ($0.16) EPS, Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $0.17 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at ($0.09) EPS, Q3 2019 earnings at ($0.09) EPS and FY2019 earnings at $0.47 EPS.
Several other research firms have also weighed in on AMC. Royal Bank Of Canada lowered their price objective on AMC Entertainment Holdings from $30.00 to $22.00 and set an outperform rating on the stock in a research note on Tuesday, August 8th. Wedbush set a $23.00 price objective on AMC Entertainment Holdings and gave the company a buy rating in a research note on Wednesday, August 2nd. Barclays PLC lowered AMC Entertainment Holdings from an overweight rating to an equal weight rating and lowered their price objective for the company from $31.00 to $25.00 in a research note on Wednesday, July 19th. Zacks Investment Research lowered AMC Entertainment Holdings from a buy rating to a hold rating in a research note on Thursday, October 19th. Finally, MKM Partners reiterated a buy rating and issued a $28.00 price objective on shares of AMC Entertainment Holdings in a research note on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. AMC Entertainment Holdings presently has a consensus rating of Hold and an average price target of $25.78.
AMC Entertainment Holdings (NYSE:AMC) opened at $11.40 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.54 and a quick ratio of 0.54. AMC Entertainment Holdings has a twelve month low of $11.25 and a twelve month high of $35.65.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings data on Monday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.04). AMC Entertainment Holdings had a negative net margin of 3.87% and a negative return on equity of 6.24%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. sell-side analysts anticipate that AMC Entertainment Holdings will post -1.28 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 7.02%. AMC Entertainment Holdings’s payout ratio is -62.50%.
AMC Entertainment Holdings declared that its Board of Directors has approved a share buyback plan on Thursday, August 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 58% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, Director Jack Qunyao Gao acquired 7,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $13.47 per share, for a total transaction of $94,290.00. Following the transaction, the director now owns 10,500 shares of the company’s stock, valued at $141,435. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam M. Aron acquired 35,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of $15.79 per share, for a total transaction of $552,650.00. Following the completion of the transaction, the chief executive officer now directly owns 125,426 shares in the company, valued at approximately $1,980,476.54. The disclosure for this purchase can be found here. Insiders acquired a total of 62,000 shares of company stock worth $896,940 over the last quarter. Corporate insiders own 0.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in AMC Entertainment Holdings by 24.9% in the 3rd quarter. Wells Fargo & Company MN now owns 69,311 shares of the company’s stock valued at $1,020,000 after buying an additional 13,799 shares during the last quarter. Sandia Holdings LLC bought a new position in AMC Entertainment Holdings in the 3rd quarter valued at $4,639,000. SG Capital Management LLC bought a new position in AMC Entertainment Holdings in the 3rd quarter valued at $6,243,000. Concourse Capital Management LLC boosted its position in AMC Entertainment Holdings by 166.0% in the 3rd quarter. Concourse Capital Management LLC now owns 128,635 shares of the company’s stock valued at $1,891,000 after buying an additional 80,275 shares during the last quarter. Finally, GMT Capital Corp boosted its position in AMC Entertainment Holdings by 508.6% in the 3rd quarter. GMT Capital Corp now owns 1,954,804 shares of the company’s stock valued at $28,736,000 after buying an additional 1,633,604 shares during the last quarter. Hedge funds and other institutional investors own 47.00% 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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