AMC Entertainment Holdings, Inc. (NYSE:AMC) Rating Increased to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) from a sell rating to a hold rating in a research note issued to investors on Friday.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
Several other analysts also recently commented on the company. Loop Capital reaffirmed a buy rating and set a $39.00 price objective on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. Barclays PLC upped their price objective on AMC Entertainment Holdings from $30.00 to $36.00 and gave the company an overweight rating in a research note on Monday, April 17th. FBR & Co reaffirmed a buy rating and set a $37.00 price objective on shares of AMC Entertainment Holdings in a research note on Friday, April 21st. TheStreet downgraded AMC Entertainment Holdings from a b- rating to a c+ rating in a research note on Friday, May 19th. Finally, Credit Suisse Group reduced their price objective on AMC Entertainment Holdings from $26.00 to $20.00 and set an underperform rating for the company in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $31.03.
Shares of AMC Entertainment Holdings (NYSE AMC) opened at 16.25 on Friday. The company’s 50-day moving average price is $22.18 and its 200 day moving average price is $27.80. AMC Entertainment Holdings has a 12-month low of $15.50 and a 12-month high of $35.65. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 18.55 and a beta of 1.31.
AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings data on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $1.41. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.61%. The firm’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. On average, equities research analysts forecast that AMC Entertainment Holdings will post ($1.03) EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Monday, September 11th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s payout ratio is -125.00%.
AMC Entertainment Holdings announced that its board has authorized a share repurchase program on Thursday, August 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 58% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Adam M. Aron purchased 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average price of $24.72 per share, for a total transaction of $247,200.00. Following the acquisition, the chief executive officer now directly owns 90,426 shares in the company, valued at approximately $2,235,330.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kevin M. Connor purchased 4,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of $23.52 per share, for a total transaction of $94,080.00. Following the acquisition, the senior vice president now owns 40,705 shares in the company, valued at $957,381.60. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AMC. Legal & General Group Plc boosted its stake in AMC Entertainment Holdings by 2.6% in the second quarter. Legal & General Group Plc now owns 13,118 shares of the company’s stock worth $301,000 after buying an additional 337 shares in the last quarter. Croft Leominster Inc. boosted its stake in AMC Entertainment Holdings by 36.1% in the first quarter. Croft Leominster Inc. now owns 11,300 shares of the company’s stock worth $355,000 after buying an additional 3,000 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in AMC Entertainment Holdings by 241.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock worth $174,000 after buying an additional 3,932 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in AMC Entertainment Holdings during the first quarter worth $141,000. Finally, Bank of New York Mellon Corp boosted its stake in AMC Entertainment Holdings by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 445,078 shares of the company’s stock worth $10,126,000 after buying an additional 4,485 shares in the last quarter. Institutional investors and hedge funds own 42.02% of the company’s stock.
AMC Entertainment Holdings Company Profile
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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