AMC Entertainment Holdings, Inc. (NYSE:AMC) Expected to Post Quarterly Sales of $153.03 Million


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Equities analysts forecast that AMC Entertainment Holdings, Inc. (NYSE:AMC) will announce $153.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for AMC Entertainment’s earnings, with the lowest sales estimate coming in at $137.20 million and the highest estimate coming in at $178.50 million. AMC Entertainment reported sales of $941.50 million during the same quarter last year, which indicates a negative year over year growth rate of 83.7%. The business is expected to announce its next earnings report on Tuesday, June 8th.

On average, analysts expect that AMC Entertainment will report full year sales of $2.47 billion for the current financial year, with estimates ranging from $2.14 billion to $2.81 billion. For the next financial year, analysts anticipate that the business will report sales of $5.02 billion, with estimates ranging from $4.68 billion to $5.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for AMC Entertainment.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Tuesday, March 9th. The company reported ($3.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.80) by ($0.35). The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $141.31 million. During the same period in the prior year, the company earned $0.35 EPS. The firm’s revenue was down 88.8% compared to the same quarter last year.

A number of research analysts have issued reports on AMC shares. Wedbush boosted their price objective on shares of AMC Entertainment from $2.50 to $5.00 and gave the company a “neutral” rating in a research report on Tuesday, March 9th. Zacks Investment Research downgraded shares of AMC Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, March 30th. Loop Capital reissued a “sell” rating and set a $1.00 price objective on shares of AMC Entertainment in a research report on Wednesday, April 7th. MKM Partners downgraded shares of AMC Entertainment from a “neutral” rating to a “sell” rating and set a $1.00 price objective on the stock. in a research report on Monday, February 1st. Finally, B. Riley raised shares of AMC Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $7.00 to $13.00 in a research report on Monday, April 5th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.00.

AMC Entertainment stock traded up $0.50 during mid-day trading on Wednesday, reaching $9.78. 23,293,257 shares of the company traded hands, compared to its average volume of 151,802,813. The firm’s 50 day moving average price is $10.28 and its 200 day moving average price is $5.72. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -0.28 and a beta of 2.48. AMC Entertainment has a 52-week low of $1.91 and a 52-week high of $20.36.

In related news, CFO Sean D. Goodman sold 45,404 shares of the company’s stock in a transaction dated Friday, April 16th. The shares were sold at an average price of $9.49, for a total value of $430,883.96. Following the transaction, the chief financial officer now owns 156,705 shares in the company, valued at approximately $1,487,130.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lake Group L.L.C. Silver sold 33,317,145 shares of the company’s stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $16.05, for a total transaction of $534,740,177.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,172,784 shares of company stock worth $590,024,146. 1.60% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new position in AMC Entertainment during the 4th quarter valued at about $26,000. Lincoln National Corp bought a new position in AMC Entertainment during the 4th quarter valued at about $27,000. Nomura Asset Management Co. Ltd. bought a new position in AMC Entertainment during the 4th quarter valued at about $27,000. ProShare Advisors LLC bought a new position in AMC Entertainment during the 4th quarter valued at about $36,000. Finally, Opal Wealth Advisors LLC bought a new position in AMC Entertainment during the 4th quarter valued at about $40,000. Institutional investors own 16.61% of the company’s stock.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 12, 2021, it operated approximately 1000 theatres and 10,700 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Earnings History and Estimates for AMC Entertainment (NYSE:AMC)

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