AMC Entertainment (NYSE:AMC – Get Rating) posted its quarterly earnings results on Thursday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03), Fidelity Earnings reports. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the business earned ($0.71) EPS. The firm’s quarterly revenue was up 162.3% compared to the same quarter last year.
AMC Entertainment Stock Up 18.9 %
NYSE:AMC traded up $3.52 during trading hours on Friday, reaching $22.18. 125,780,168 shares of the company’s stock were exchanged, compared to its average volume of 36,927,912. The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of -13.95 and a beta of 1.64. The company has a 50-day moving average of $14.26 and a 200 day moving average of $15.90. AMC Entertainment has a 1-year low of $9.70 and a 1-year high of $52.79.
AMC Entertainment Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 15th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Friday, August 12th.
Institutional Trading of AMC Entertainment
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on AMC. StockNews.com upgraded shares of AMC Entertainment to a “sell” rating in a report on Wednesday, July 20th. Wedbush restated an “underperform” rating and issued a $4.00 target price on shares of AMC Entertainment in a report on Tuesday. The Goldman Sachs Group lowered their target price on shares of AMC Entertainment to $34.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Citigroup lowered their target price on shares of AMC Entertainment from $6.00 to $5.00 and set a “sell” rating for the company in a report on Thursday, July 7th. Finally, B. Riley lowered their target price on shares of AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, June 21st. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, AMC Entertainment has an average rating of “Reduce” and a consensus price target of $13.50.
About AMC Entertainment
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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