Royal Bank Of Canada Trims AMC Entertainment Holdings, Inc. (NYSE:AMC) Target Price to $22.00
AMC Entertainment Holdings, Inc. (NYSE:AMC) had its price objective dropped by equities researchers at Royal Bank Of Canada from $30.00 to $22.00 in a report released on Tuesday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 36.65% from the stock’s previous close.
Other analysts have also recently issued reports about the company. B. Riley raised AMC Entertainment Holdings to a “buy” rating and set a $49.50 target price for the company in a research note on Sunday, May 14th. Wedbush reissued a “buy” rating on shares of AMC Entertainment Holdings in a research note on Tuesday. FBR & Co reissued a “buy” rating and set a $37.00 target price on shares of AMC Entertainment Holdings in a research note on Friday, April 21st. William Blair began coverage on AMC Entertainment Holdings in a research note on Friday, July 21st. They set a “market perform” rating for the company. Finally, Zacks Investment Research raised AMC Entertainment Holdings from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. AMC Entertainment Holdings currently has an average rating of “Hold” and a consensus target price of $29.96.
Shares of AMC Entertainment Holdings (AMC) opened at 16.10 on Tuesday. AMC Entertainment Holdings has a 12-month low of $16.05 and a 12-month high of $35.65. The firm has a market capitalization of $2.11 billion, a PE ratio of 18.38 and a beta of 1.31. The company’s 50 day moving average is $22.18 and its 200 day moving average is $27.80.
AMC Entertainment Holdings (NYSE:AMC) last posted its earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $1.41. AMC Entertainment Holdings had a negative return on equity of 3.61% and a negative net margin of 2.49%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $0.24 earnings per share. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, analysts forecast that AMC Entertainment Holdings will post ($1.07) earnings per share for the current year.
AMC Entertainment Holdings declared that its board has authorized a share repurchase program on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 58% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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In related news, CEO Adam M. Aron acquired 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was bought at an average price of $24.72 per share, with a total value of $247,200.00. Following the acquisition, the chief executive officer now owns 90,426 shares in the company, valued at approximately $2,235,330.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin M. Connor acquired 4,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was bought at an average cost of $23.52 per share, with a total value of $94,080.00. Following the acquisition, the senior vice president now owns 40,705 shares in the company, valued at approximately $957,381.60. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. bought a new stake in AMC Entertainment Holdings during the first quarter valued at approximately $141,000. Pacer Advisors Inc. bought a new stake in AMC Entertainment Holdings during the first quarter valued at approximately $157,000. BNP Paribas Arbitrage SA increased its stake in AMC Entertainment Holdings by 574.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock valued at $162,000 after buying an additional 6,055 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in AMC Entertainment Holdings by 1,837.8% in the second quarter. Nisa Investment Advisors LLC now owns 7,170 shares of the company’s stock valued at $163,000 after buying an additional 6,800 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased 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 valued at $174,000 after buying an additional 3,932 shares during the last quarter. 42.02% of the stock is owned by institutional investors.
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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