Zacks Research Upgrades AMC Entertainment (NYSE:AMC) to “Strong-Buy”

AMC Entertainment (NYSE:AMC) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

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

AMC Entertainment Trading Down 5.7%

AMC Entertainment stock opened at $2.88 on Tuesday. The business’s fifty day simple moving average is $2.69 and its two-hundred day simple moving average is $2.15. AMC Entertainment has a 12 month low of $0.93 and a 12 month high of $3.40. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -2.70 and a beta of 1.97.

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

Hedge Funds Weigh In On AMC Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC boosted its stake in shares of AMC Entertainment by 25.6% during the 2nd quarter. Tidal Investments LLC now owns 63,953 shares of the company’s stock worth $122,000 after acquiring an additional 13,028 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of AMC Entertainment in the 2nd quarter worth $969,000. Integrated Wealth Concepts LLC raised its holdings in AMC Entertainment by 64.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 25,407 shares of the company’s stock worth $48,000 after purchasing an additional 10,003 shares during the period. Arizona State Retirement System grew its holdings in AMC Entertainment by 73.5% during the second quarter. Arizona State Retirement System now owns 246,581 shares of the company’s stock valued at $469,000 after purchasing an additional 104,441 shares during the period. Finally, Corient Private Wealth LP bought a new position in shares of AMC Entertainment in the second quarter worth about $127,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

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.