AMC Entertainment (NYSE:AMC) Stock Rating Cut to “Hold” at Zacks Research

AMC Entertainment (NYSE:AMC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, Zacks reports.

AMC has been the topic of a number of other research reports. Weiss Ratings raised shares of AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. Needham & Company LLC set a $3.50 price target on shares of AMC Entertainment in a research report on Tuesday, July 21st. Wedbush reaffirmed an “outperform” rating and issued a $4.00 price target (up from $3.00) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Texas Capital upgraded shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, B. Riley Financial reissued a “neutral” rating on shares of AMC Entertainment in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, AMC Entertainment presently has an average rating of “Hold” and an average price target of $2.73.

AMC Entertainment Stock Down 3.1%

AMC Entertainment stock opened at $3.31 on Wednesday. The company has a 50 day moving average price of $2.93 and a 200-day moving average price of $2.05. AMC Entertainment has a fifty-two week low of $0.93 and a fifty-two week high of $3.77.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The business’s revenue was up 31.6% compared to the same quarter last year. As a group, analysts predict that AMC Entertainment will post -0.11 earnings per share for the current year.

Institutional Trading of AMC Entertainment

A number of institutional investors have recently modified their holdings of the company. Summit Asset Management LLC purchased a new position in shares of AMC Entertainment in the 2nd quarter worth approximately $28,000. HighTower Advisors LLC purchased a new stake in AMC Entertainment during the third quarter valued at approximately $31,000. Yousif Capital Management LLC purchased a new stake in AMC Entertainment during the third quarter valued at approximately $32,000. Royal Bank of Canada lifted its position in AMC Entertainment by 90.7% during the first quarter. Royal Bank of Canada now owns 33,657 shares of the company’s stock valued at $33,000 after acquiring an additional 16,011 shares during the last quarter. Finally, Miller Financial Services LLC acquired a new stake in AMC Entertainment in the third quarter valued at approximately $33,000. 28.80% of the stock is currently owned by institutional investors.

About AMC Entertainment

AMC Entertainment Holdings, Inc. operates movie theaters that show films and other content, including special-event programming. Its theaters offer services such as reserved seating, online ticketing, and food and beverage sales, with amenities and premium formats varying by location. The company serves audiences in the United States and Europe through brands including AMC, ODEON, and Nordic Cinema. Its history dates to 1920, when the Dubinsky brothers began operating theaters in the Kansas City area.