AMC Entertainment Holdings Inc. (AMC) Stock Price Down 3.2%
AMC Entertainment Holdings Inc. (NYSE:AMC) fell 3.2% during mid-day trading on Wednesday . The company traded as low as $28.96 and last traded at $28.97, with a volume of 153,067 shares changing hands. The stock had previously closed at $29.94.
A number of brokerages have recently issued reports on AMC. FBR & Co upped their target price on shares of AMC Entertainment Holdings from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday. B. Riley reaffirmed a “buy” rating and issued a $37.00 target price on shares of AMC Entertainment Holdings in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of AMC Entertainment Holdings in a report on Monday. MKM Partners upped their target price on shares of AMC Entertainment Holdings from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday. Finally, Zacks Investment Research cut shares of AMC Entertainment Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.27.
The stock has a 50-day moving average price of $28.20 and a 200 day moving average price of $26.55. The firm has a market cap of $2.85 billion and a PE ratio of 22.77.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business had revenue of $766 million for the quarter, compared to analyst estimates of $769.30 million. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts expect that AMC Entertainment Holdings Inc. will post $1.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Tuesday, September 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 1st.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in AMC Entertainment Holdings during the fourth quarter worth $1,102,000. 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 worth $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 worth $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 worth $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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