AMC Entertainment (NYSE:AMC) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of AMC Entertainment (NYSE:AMC) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks reports.

Other analysts also recently issued research reports about the stock. Texas Capital raised shares of AMC Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Needham & Company LLC set a $3.50 target price on AMC Entertainment in a research note on Tuesday, July 21st. UBS Group restated a “buy” rating on shares of AMC Entertainment in a report on Tuesday, July 21st. B. Riley Financial restated a “neutral” rating and set a $2.50 price objective (up from $2.25) on shares of AMC Entertainment in a report on Wednesday, July 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $4.00 price objective (up from $3.00) on shares of AMC Entertainment in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2.67.

AMC Entertainment Stock Performance

AMC stock opened at $2.88 on Tuesday. The firm has a fifty day moving average price of $2.69 and a 200 day moving average price of $2.15. AMC Entertainment has a fifty-two week low of $0.93 and a fifty-two week high of $3.40. The firm has a market cap of $2.58 billion, a PE ratio of -2.70 and a beta of 1.97.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Monday, July 20th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.17. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.50 billion. On average, equities analysts predict that AMC Entertainment will post -0.21 EPS for the current year.

Institutional Investors Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Readystate Asset Management LP bought a new stake in shares of AMC Entertainment during the second quarter valued at approximately $8,343,000. Fund 1 Investments LLC purchased a new stake in shares of AMC Entertainment in the second quarter valued at approximately $4,192,000. Headlands Technologies LLC bought a new position in AMC Entertainment in the second quarter worth approximately $1,643,000. WINTON GROUP Ltd bought a new position in AMC Entertainment in the second quarter worth approximately $969,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in AMC Entertainment by 3,100.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 225,685 shares of the company’s stock worth $352,000 after purchasing an additional 218,634 shares in the last quarter. Institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates one of the world’s largest movie-theater businesses under the AMC Theatres and Odeon brands. The company exhibits first-run films and provides audiences with entertainment experiences that include standard screenings, premium formats such as IMAX and Dolby Cinema, and special or alternative programming.

In addition to ticket sales, AMC generates revenue through food and beverage concessions, including expanded menu options and in-theater dining at selected locations.