Citigroup Cuts AMC Entertainment (NYSE:AMC) Price Target to $2.30

AMC Entertainment (NYSE:AMC) had its target price lowered by stock analysts at Citigroup from $2.70 to $2.30 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s target price would suggest a potential downside of 1.92% from the company’s previous close.

AMC has been the topic of several other research reports. Zacks Research cut AMC Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 7th. Wall Street Zen downgraded AMC Entertainment from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of AMC Entertainment in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $3.26.

AMC Entertainment Trading Down 4.7%

AMC stock traded down $0.12 on Thursday, hitting $2.35. The company’s stock had a trading volume of 15,629,887 shares, compared to its average volume of 13,052,807. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -2.63 and a beta of 1.05. The firm has a 50 day moving average of $2.78 and a two-hundred day moving average of $2.95. AMC Entertainment has a 1 year low of $2.34 and a 1 year high of $5.56.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.03). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted ($0.04) EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that AMC Entertainment will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On AMC Entertainment

A number of large investors have recently made changes to their positions in the stock. Northern Trust Corp grew its position in AMC Entertainment by 6.7% during the first quarter. Northern Trust Corp now owns 3,540,656 shares of the company’s stock worth $10,162,000 after buying an additional 222,375 shares during the period. Nuveen LLC acquired a new stake in shares of AMC Entertainment during the 1st quarter valued at approximately $2,736,000. Graham Capital Management L.P. boosted its stake in shares of AMC Entertainment by 272.7% during the 1st quarter. Graham Capital Management L.P. now owns 625,783 shares of the company’s stock worth $1,796,000 after acquiring an additional 457,856 shares in the last quarter. Brio Consultants LLC purchased a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $281,000. Finally, Vanguard Group Inc. grew its holdings in shares of AMC Entertainment by 16.2% in the 1st quarter. Vanguard Group Inc. now owns 42,815,896 shares of the company’s stock worth $122,882,000 after acquiring an additional 5,961,337 shares during the period. Hedge funds and other institutional investors own 28.80% of the company’s stock.

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.