AMC Entertainment (NYSE:AMC) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

AMC Entertainment (NYSE:AMC) announced its quarterly earnings data on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03, Briefing.com reports. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS.

AMC Entertainment Stock Down 6.1 %

Shares of AMC Entertainment stock traded down $0.28 during trading hours on Thursday, hitting $4.30. The company’s stock had a trading volume of 15,734,708 shares, compared to its average volume of 26,289,707. AMC Entertainment has a 1-year low of $2.38 and a 1-year high of $11.88. The business has a fifty day moving average of $4.52 and a 200 day moving average of $4.65. The company has a market capitalization of $1.55 billion, a PE ratio of -2.88 and a beta of 1.83.

Analyst Ratings Changes

AMC has been the topic of several recent analyst reports. B. Riley reduced their price objective on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $4.00 price target on shares of AMC Entertainment in a research report on Monday, August 5th. Finally, Morgan Stanley dropped their price target on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, August 12th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $5.44.

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.