AMC Entertainment Holdings, Inc. (AMC) Expected to Announce Quarterly Sales of $1.19 Billion
Brokerages predict that AMC Entertainment Holdings, Inc. (NYSE:AMC) will post $1.19 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for AMC Entertainment Holdings’ earnings. The lowest sales estimate is $1.14 billion and the highest is $1.26 billion. AMC Entertainment Holdings posted sales of $779.77 million in the same quarter last year, which suggests a positive year over year growth rate of 52.6%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that AMC Entertainment Holdings will report full-year sales of $1.19 billion for the current year, with estimates ranging from $5.12 billion to $5.18 billion. For the next year, analysts anticipate that the company will report sales of $5.44 billion per share, with estimates ranging from $5.34 billion to $5.59 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow AMC Entertainment Holdings.
AMC Entertainment Holdings (NYSE:AMC) last issued its earnings results on Friday, August 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of $0.06 by $1.41. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.61% and a negative net margin of 2.49%. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share.
A number of research analysts have commented on the company. B. Riley reaffirmed a “buy” rating and issued a $32.50 price objective on shares of AMC Entertainment Holdings in a report on Thursday. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of AMC Entertainment Holdings in a research report on Tuesday. Loop Capital reiterated a “buy” rating and set a $33.00 target price (down from $39.00) on shares of AMC Entertainment Holdings in a research report on Tuesday. Royal Bank Of Canada cut their target price on AMC Entertainment Holdings from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Wedbush reiterated a “buy” rating and set a $22.75 target price (down from $36.00) on shares of AMC Entertainment Holdings in a research report on Tuesday. 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 company. AMC Entertainment Holdings presently has an average rating of “Hold” and a consensus target price of $29.96.
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In other news, SVP Kevin M. Connor bought 4,000 shares of the stock in a transaction on Thursday, June 8th. The stock was acquired at an average price of $23.52 per share, with a total value of $94,080.00. Following the acquisition, the senior vice president now directly owns 40,705 shares in the company, valued at $957,381.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam M. Aron bought 10,000 shares of the stock in a transaction on Friday, June 2nd. The stock was purchased at an average cost 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 $2,235,330.72. The disclosure for this purchase can be found here. 0.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of AMC Entertainment Holdings by 46,484.0% in the first quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock worth $105,428,000 after buying an additional 3,344,988 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of AMC Entertainment Holdings by 409.9% in the second quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock valued at $91,456,000 after buying an additional 3,108,645 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of AMC Entertainment Holdings during the first quarter valued at $73,011,000. Vanguard Group Inc. boosted its stake in shares of AMC Entertainment Holdings by 59.8% in the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock valued at $152,228,000 after buying an additional 1,811,552 shares during the last quarter. Finally, Mittleman Brothers LLC boosted its stake in shares of AMC Entertainment Holdings by 90.1% in the second quarter. Mittleman Brothers LLC now owns 1,442,941 shares of the company’s stock valued at $32,827,000 after buying an additional 684,072 shares during the last quarter. 42.02% of the stock is owned by institutional investors and hedge funds.
AMC Entertainment Holdings (NYSE AMC) opened at 14.45 on Friday. AMC Entertainment Holdings has a 1-year low of $14.40 and a 1-year high of $35.65. The firm’s market capitalization is $1.89 billion. The firm’s 50-day moving average price is $20.47 and its 200 day moving average price is $27.01.
AMC Entertainment Holdings declared that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 58% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be issued a $0.20 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a yield of 5.54%. AMC Entertainment Holdings’s payout ratio is presently -125.00%.
About AMC Entertainment Holdings
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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