AMC Entertainment Holdings Inc. (AMC) Shares Up 6.7%
AMC Entertainment Holdings Inc. (NYSE:AMC)’s share price shot up 6.7% on Tuesday . The stock traded as high as $29.70 and last traded at $29.63, with a volume of 224,988 shares trading hands. The stock had previously closed at $27.77.
Several research firms have recently weighed in on AMC. B. Riley reiterated a “buy” rating and set a $37.00 price objective on shares of AMC Entertainment Holdings in a report on Wednesday. FBR & Co lifted their price objective on AMC Entertainment Holdings from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, May 12th. TheStreet upgraded AMC Entertainment Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, March 30th. Topeka Capital Markets cut their price objective on AMC Entertainment Holdings from $27.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, June 1st. Finally, Wedbush reiterated an “outperform” rating and set a $33.00 price objective on shares of AMC Entertainment Holdings in a report on Monday, April 4th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $31.73.
The company has a market cap of $2.98 billion and a PE ratio of 23.84. The firm has a 50-day moving average of $27.75 and a 200-day moving average of $26.09.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.08. The company earned $766 million during the quarter, compared to analyst estimates of $769.30 million. During the same period in the previous year, the company posted $0.06 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that AMC Entertainment Holdings Inc. will post $1.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 20th. Investors of record on Monday, June 6th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, June 2nd. This represents a $0.80 annualized dividend and a yield of 2.61%.
A number of large investors have added to or reduced their stakes in AMC. Schroder Investment Management Group boosted its stake in AMC Entertainment Holdings by 158.6% in the fourth quarter. Schroder Investment Management Group now owns 788,400 shares of the company’s stock valued at $18,922,000 after buying an additional 483,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in AMC Entertainment Holdings by 66.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 537,502 shares of the company’s stock valued at $12,900,000 after buying an additional 214,344 shares in the last quarter. Fiduciary Management Associates LLC boosted its stake in AMC Entertainment Holdings by 22.3% in the fourth quarter. Fiduciary Management Associates LLC now owns 763,274 shares of the company’s stock valued at $18,321,000 after buying an additional 139,095 shares in the last quarter. Marshall Wace LLP acquired a new stake in AMC Entertainment Holdings during the fourth quarter valued at approximately $1,102,000. Finally, Neuberger Berman Group LLC boosted its stake in AMC Entertainment Holdings by 2.2% in the fourth quarter. Neuberger Berman Group LLC now owns 169,237 shares of the company’s stock valued at $4,062,000 after buying an additional 3,675 shares in the last quarter.
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE) and American Multi-Cinema, Inc (OpCo), is engaged in the theatrical exhibition business. The Company owns, operates or holds interests in approximately 380 theatres with a total of over 5,260 screens, which are located in the United States.
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