AMC Entertainment (NYSE:AMC) Issues Q1 2024 Earnings Guidance

AMC Entertainment (NYSE:AMC) updated its first quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -0.620–0.620 for the period, compared to the consensus estimate of -0.790. The company issued revenue guidance of $951.4 million-$951.4 million, compared to the consensus revenue estimate of $861.1 million. AMC Entertainment also updated its Q1 guidance to $(0.62) EPS.

AMC Entertainment Trading Up 4.0 %

Shares of NYSE AMC opened at $3.41 on Monday. The company has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $5.66. The stock has a market cap of $897.78 million, a price-to-earnings ratio of -1.45 and a beta of 1.62. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $62.30.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Wednesday, February 28th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.16. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Analysts forecast that AMC Entertainment will post -1.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AMC shares. B. Riley lowered their price objective on AMC Entertainment from $12.00 to $8.00 and set a neutral rating on the stock in a research report on Thursday, February 29th. Wedbush lowered their price target on shares of AMC Entertainment from $6.00 to $4.00 and set a neutral rating on the stock in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of Reduce and an average target price of $5.95.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.