AMC Entertainment (NYSE:AMC) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of AMC Entertainment (NYSE:AMC) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. The firm currently has $10.00 target price on the stock.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
Other equities analysts have also issued research reports about the stock. B. Riley set a $20.00 price target on shares of AMC Entertainment and gave the company a buy rating in a research report on Wednesday, June 26th. ValuEngine upgraded shares of Zumiez from a sell rating to a hold rating in a research report on Saturday, June 22nd. Benchmark lowered their price objective on shares of AMC Entertainment from $20.00 to $17.00 and set a buy rating for the company in a research report on Monday, May 13th. MKM Partners lifted their price target on shares of Imax to $28.00 and gave the stock a buy rating in a research report on Friday, April 12th. Finally, TheStreet cut shares of USD Partners from a b- rating to a c+ rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $17.88.
AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.74). AMC Entertainment had a negative return on equity of 11.59% and a negative net margin of 0.72%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company earned $0.14 earnings per share. AMC Entertainment’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, sell-side analysts predict that AMC Entertainment will post -0.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 8.47%. The ex-dividend date was Friday, June 7th. AMC Entertainment’s payout ratio is currently 615.38%.
In other AMC Entertainment news, Director Raymond C. Stachowiak acquired 160,559 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $2.73 per share, with a total value of $438,326.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in AMC. Campbell & CO Investment Adviser LLC bought a new stake in AMC Entertainment during the second quarter worth about $262,000. New Jersey Better Educational Savings Trust grew its position in shares of AMC Entertainment by 33.3% during the 2nd quarter. New Jersey Better Educational Savings Trust now owns 16,000 shares of the company’s stock worth $149,000 after buying an additional 4,000 shares during the period. Sepio Capital LLC acquired a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $345,000. Advisory Services Network LLC grew its position in shares of AMC Entertainment by 1,038.8% during the 1st quarter. Advisory Services Network LLC now owns 43,275 shares of the company’s stock worth $643,000 after buying an additional 39,475 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $2,078,000. 49.08% of the stock is currently owned by institutional investors and hedge funds.
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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