AMC Entertainment (NYSE:AMC) Stock Gets Downgrade from Zacks Research

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

A number of other research analysts have also recently commented on AMC. Roth Capital restated a “neutral” rating on shares of AMC Entertainment in a research note on Friday, October 23rd. Weiss Ratings raised AMC Entertainment from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Needham & Company LLC set a $3.50 price objective on AMC Entertainment in a research note on Tuesday, July 21st. Wedbush reiterated an “outperform” rating and issued a $4.00 price objective (up from $3.00) on shares of AMC Entertainment in a research note on Tuesday, July 21st. Finally, B. Riley Financial reissued a “neutral” rating on shares of AMC Entertainment in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.73.

AMC Entertainment Stock Performance

Shares of AMC stock opened at $3.31 on Wednesday. The firm has a fifty day moving average of $2.93 and a 200-day moving average of $2.05. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -8.96 and a beta of 2.03. AMC Entertainment has a 52-week low of $0.93 and a 52-week high of $3.77.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Wednesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.66 billion. AMC Entertainment’s revenue was up 31.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. On average, sell-side analysts predict that AMC Entertainment will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On AMC Entertainment

Several institutional investors and hedge funds have recently made changes to their positions in the company. Polymer Capital Management US LLC grew its holdings in shares of AMC Entertainment by 77.2% in the 3rd quarter. Polymer Capital Management US LLC now owns 99,600 shares of the company’s stock worth $299,000 after purchasing an additional 43,395 shares during the last quarter. Disciplined Investors L.L.C. acquired a new stake in shares of AMC Entertainment during the 3rd quarter worth about $225,000. Private Advisor Group LLC lifted its holdings in AMC Entertainment by 281.3% during the 3rd quarter. Private Advisor Group LLC now owns 109,594 shares of the company’s stock valued at $329,000 after purchasing an additional 80,851 shares during the last quarter. Focus Advisor Solutions LLC lifted its holdings in AMC Entertainment by 88.7% during the 3rd quarter. Focus Advisor Solutions LLC now owns 21,879 shares of the company’s stock valued at $66,000 after purchasing an additional 10,283 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in AMC Entertainment by 43.8% during the 3rd quarter. Voya Investment Management LLC now owns 172,705 shares of the company’s stock valued at $518,000 after purchasing an additional 52,612 shares during the last quarter. Institutional investors and hedge funds own 28.80% of the company’s stock.

About AMC Entertainment

AMC Entertainment Holdings, Inc. operates movie theaters that show films and other content, including special-event programming. Its theaters offer services such as reserved seating, online ticketing, and food and beverage sales, with amenities and premium formats varying by location. The company serves audiences in the United States and Europe through brands including AMC, ODEON, and Nordic Cinema. Its history dates to 1920, when the Dubinsky brothers began operating theaters in the Kansas City area.