AMC Entertainment (NYSE:AMC) Sets New 12-Month Low – Here’s Why

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $2.02 and last traded at $2.0550, with a volume of 2762111 shares trading hands. The stock had previously closed at $2.12.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMC. Citigroup lowered their price target on AMC Entertainment from $2.70 to $2.30 and set a “sell” rating for the company in a research note on Thursday, November 13th. Zacks Research lowered shares of AMC Entertainment from a “strong-buy” rating to a “hold” rating in a report on Friday, November 7th. Wall Street Zen cut shares of AMC Entertainment from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, AMC Entertainment currently has a consensus rating of “Reduce” and a consensus price target of $3.26.

AMC Entertainment Trading Down 5.4%

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.41 and a beta of 0.53. The firm’s 50 day simple moving average is $2.50 and its 200-day simple moving average is $2.84.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business posted ($0.04) earnings per share. AMC Entertainment’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities research analysts predict that AMC Entertainment Holdings, Inc. will post -1.38 earnings per share for the current year.

Institutional Investors Weigh In On AMC Entertainment

Several hedge funds have recently added to or reduced their stakes in AMC. Jones Financial Companies Lllp increased its holdings in shares of AMC Entertainment by 761.8% in the third quarter. Jones Financial Companies Lllp now owns 8,480 shares of the company’s stock valued at $25,000 after purchasing an additional 7,496 shares during the last quarter. Total Investment Management Inc. bought a new stake in shares of AMC Entertainment during the second quarter worth approximately $27,000. Gradient Capital Advisors LLC acquired a new position in shares of AMC Entertainment in the third quarter valued at approximately $29,000. Sovereign Financial Group Inc. bought a new position in shares of AMC Entertainment during the second quarter worth approximately $32,000. Finally, CFO4Life Group LLC bought a new position in AMC Entertainment during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 28.80% of the company’s stock.

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.