Other research analysts have also recently issued reports about the stock. William Blair assumed coverage on shares of AMC Entertainment Holdings in a report on Friday, July 21st. They set a market perform rating for the company. Zacks Investment Research raised shares of AMC Entertainment Holdings from a sell rating to a hold rating in a report on Friday, August 4th. Credit Suisse Group decreased their price objective on shares of AMC Entertainment Holdings from $26.00 to $20.00 and set an underperform rating for the company in a report on Friday, June 23rd. ValuEngine lowered shares of AMC Entertainment Holdings from a hold rating to a sell rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada cut their target price on shares of AMC Entertainment Holdings from $30.00 to $22.00 and set an outperform rating for the company in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. AMC Entertainment Holdings has a consensus rating of Hold and a consensus target price of $26.46.
AMC Entertainment Holdings (NYSE:AMC) opened at 14.00 on Wednesday. AMC Entertainment Holdings has a 12-month low of $12.05 and a 12-month high of $35.65. The company’s market capitalization is $1.83 billion. The company has a 50-day moving average of $14.80 and a 200 day moving average of $20.91.
AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings data on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($1.41). AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. Equities research analysts forecast that AMC Entertainment Holdings will post ($1.08) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th were given a $0.20 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.71%. AMC Entertainment Holdings’s payout ratio is currently -125.00%.
AMC Entertainment Holdings declared that its board has authorized a share buyback program on Thursday, August 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 58% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other AMC Entertainment Holdings news, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $6.09, for a total value of $73,080,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam M. Aron purchased 35,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of $15.79 per share, with a total value of $552,650.00. Following the completion of the transaction, the chief executive officer now owns 125,426 shares of the company’s stock, valued at $1,980,476.54. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 62,000 shares of company stock valued at $896,940. Company insiders own 0.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in shares of AMC Entertainment Holdings by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,845 shares of the company’s stock worth $110,000 after purchasing an additional 372 shares during the period. Seven Eight Capital LP bought a new position in shares of AMC Entertainment Holdings in the second quarter worth approximately $125,000. Pacer Advisors Inc. boosted its position in shares of AMC Entertainment Holdings by 12.0% in the second quarter. Pacer Advisors Inc. now owns 5,600 shares of the company’s stock worth $127,000 after purchasing an additional 601 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of AMC Entertainment Holdings by 574.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,109 shares of the company’s stock worth $162,000 after purchasing an additional 6,055 shares during the period. Finally, Financial Consulate Inc. bought a new position in shares of AMC Entertainment Holdings in the third quarter worth approximately $162,000. Institutional investors and hedge funds own 47.02% of the company’s stock.
About AMC Entertainment Holdings
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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