AMC Entertainment Holdings Inc. (AMC) Shares Up 6.7%
Shares of AMC Entertainment Holdings Inc. (NYSE:AMC) shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $29.70 and last traded at $29.63, with a volume of 224,988 shares traded. The stock had previously closed at $27.77.
A number of brokerages have issued reports on AMC. Topeka Capital Markets decreased their price target on AMC Entertainment Holdings from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, June 1st. FBR & Co raised their price target on AMC Entertainment Holdings from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, May 12th. B. Riley lowered AMC Entertainment Holdings to a “buy” rating and set a $34.75 price target on the stock. in a research note on Tuesday, June 21st. TheStreet raised AMC Entertainment Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, March 30th. Finally, Credit Suisse Group AG reissued an “outperform” rating and issued a $34.00 price target on shares of AMC Entertainment Holdings in a research note on Sunday, June 12th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.52.
The company’s 50 day moving average is $27.65 and its 200 day moving average is $26.02. The company has a market cap of $2.90 billion and a price-to-earnings ratio of 23.19.
AMC Entertainment Holdings (NYSE:AMC) last announced its earnings results on Friday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The company had revenue of $766 million for the quarter, compared to analyst estimates of $769.30 million. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. Analysts predict that AMC Entertainment Holdings Inc. will post $1.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Monday, June 6th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, June 2nd.
Other large investors recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in shares of AMC Entertainment Holdings during the fourth quarter worth about $1,102,000. Neuberger Berman Group LLC raised its position 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 during the last quarter. Dimensional Fund Advisors LP raised its position 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 during the last quarter. Fiduciary Management Associates LLC raised its position 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 during the last quarter. Finally, Schroder Investment Management Group raised its position 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 during 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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