Zacks Investment Research upgraded shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) from a hold rating to a buy rating in a research report sent to investors on Tuesday, October 17th. The firm currently has $15.00 target price on the stock.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
Several other analysts also recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of AMC Entertainment Holdings from $30.00 to $22.00 and set an outperform rating for the company in a research note on Tuesday, August 8th. Wedbush set a $23.00 price objective on shares of AMC Entertainment Holdings and gave the stock a buy rating in a research note on Wednesday, August 2nd. Barclays PLC downgraded shares of AMC Entertainment Holdings from an overweight rating to an equal weight rating and decreased their price objective for the stock from $31.00 to $25.00 in a research note on Wednesday, July 19th. MKM Partners reaffirmed a buy rating and set a $28.00 price target on shares of AMC Entertainment Holdings in a research note on Monday, September 18th. Finally, ValuEngine downgraded shares of AMC Entertainment Holdings from a hold rating to a sell rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $26.35.
AMC Entertainment Holdings (NYSE:AMC) traded up $0.22 during trading on Tuesday, hitting $12.13. The company had a trading volume of 4,193,291 shares, compared to its average volume of 2,649,153. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.54 and a quick ratio of 0.54.
AMC Entertainment Holdings (NYSE:AMC) last issued its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative return on equity of 3.44% and a negative net margin of 2.49%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s quarterly revenue was up 57.3% on a year-over-year basis. analysts forecast that AMC Entertainment Holdings will post -1.14 earnings per share for the current fiscal year.
AMC Entertainment Holdings announced that its Board of Directors has approved a share buyback plan on Thursday, August 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 58% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, December 4th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 6.60%. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.
In related news, CEO Adam M. Aron bought 35,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $15.79 per share, for a total transaction of $552,650.00. Following the completion of the acquisition, the chief executive officer now owns 125,426 shares in the company, valued at $1,980,476.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack Qunyao Gao bought 7,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was bought at an average price of $13.47 per share, with a total value of $94,290.00. Following the completion of the acquisition, the director now owns 10,500 shares of the company’s stock, valued at approximately $141,435. The disclosure for this purchase can be found here. Insiders have acquired a total of 62,000 shares of company stock worth $896,940 over the last three months. 0.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of AMC Entertainment Holdings by 59.8% during the first quarter. Vanguard Group Inc. now owns 4,840,316 shares of the company’s stock worth $152,228,000 after acquiring an additional 1,811,552 shares during the last quarter. Schroder Investment Management Group grew its position in AMC Entertainment Holdings by 409.9% in the 2nd quarter. Schroder Investment Management Group now owns 3,867,048 shares of the company’s stock valued at $91,456,000 after buying an additional 3,108,645 shares in the last quarter. BlackRock Inc. grew its position in AMC Entertainment Holdings by 46,484.0% in the 1st quarter. BlackRock Inc. now owns 3,352,184 shares of the company’s stock valued at $105,428,000 after buying an additional 3,344,988 shares in the last quarter. Janus Henderson Group PLC bought a new position in AMC Entertainment Holdings in the 2nd quarter valued at about $63,789,000. Finally, Janus Capital Management LLC grew its position in AMC Entertainment Holdings by 0.3% in the 1st quarter. Janus Capital Management LLC now owns 2,417,897 shares of the company’s stock valued at $76,043,000 after buying an additional 8,318 shares in the last quarter. 47.00% of the stock is currently owned by hedge funds and other institutional investors.
AMC Entertainment Holdings Company Profile
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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