AMC Entertainment (NYSE:AMC) Price Target Lowered to $4.00 at Wedbush

AMC Entertainment (NYSE:AMC) had its target price decreased by equities researchers at Wedbush from $6.00 to $4.00 in a report released on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective would indicate a potential upside of 34.91% from the company’s current price.

Separately, B. Riley lowered their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, February 29th. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.95.

AMC Entertainment Stock Up 9.0 %

Shares of AMC opened at $2.97 on Thursday. The business’s 50-day moving average price is $4.03 and its 200-day moving average price is $5.99. AMC Entertainment has a twelve month low of $2.38 and a twelve month high of $62.30. The stock has a market cap of $780.63 million, a PE ratio of -1.26 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last announced its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Analysts expect that AMC Entertainment will post -1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its holdings in shares of AMC Entertainment by 417.6% in the first quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after purchasing an additional 856 shares during the last quarter. KBC Group NV bought a new position in shares of AMC Entertainment in the fourth quarter worth approximately $30,000. Russell Investments Group Ltd. bought a new position in shares of AMC Entertainment in the fourth quarter worth approximately $34,000. PNC Financial Services Group Inc. grew its holdings in shares of AMC Entertainment by 44.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,240 shares of the company’s stock worth $46,000 after purchasing an additional 3,448 shares during the last quarter. Finally, Peapack Gladstone Financial Corp bought a new position in shares of AMC Entertainment in the first quarter worth approximately $54,000. 28.80% of the stock is currently owned by institutional investors.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.