AMC Entertainment (NYSE:AMC) Sets New 12-Month Low – What’s Next?

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s stock price reached a new 52-week low on Friday . The stock traded as low as $2.40 and last traded at $2.4150, with a volume of 13760499 shares trading hands. The stock had previously closed at $2.60.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMC shares. Wall Street Zen upgraded shares of AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. Wedbush raised shares of AMC Entertainment from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $3.00 to $4.00 in a research note on Friday, July 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMC Entertainment in a research note on Wednesday, October 8th. Citigroup raised their price target on shares of AMC Entertainment from $2.60 to $2.70 and gave the stock a “sell” rating in a research note on Tuesday, August 19th. Finally, Zacks Research raised AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, AMC Entertainment presently has an average rating of “Hold” and a consensus target price of $3.33.

AMC Entertainment Trading Down 6.3%

The stock’s 50-day moving average is $2.81 and its 200-day moving average is $2.95. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -2.74 and a beta of 1.05.

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

Institutional Investors Weigh In On AMC Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its holdings in shares of AMC Entertainment by 8.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 44,447 shares of the company’s stock valued at $138,000 after buying an additional 3,558 shares during the period. Mackenzie Financial Corp boosted its holdings in AMC Entertainment by 24.3% in the 1st quarter. Mackenzie Financial Corp now owns 22,517 shares of the company’s stock worth $65,000 after acquiring an additional 4,400 shares during the period. Avantax Advisory Services Inc. grew its position in AMC Entertainment by 5.5% in the first quarter. Avantax Advisory Services Inc. now owns 87,655 shares of the company’s stock valued at $252,000 after acquiring an additional 4,551 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of AMC Entertainment by 10.1% during the first quarter. Victory Capital Management Inc. now owns 51,805 shares of the company’s stock valued at $149,000 after purchasing an additional 4,756 shares during the period. Finally, Xponance Inc. lifted its position in shares of AMC Entertainment by 21.8% during the first quarter. Xponance Inc. now owns 30,383 shares of the company’s stock worth $87,000 after purchasing an additional 5,446 shares in the last quarter. Hedge funds and other institutional investors 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.