AMC Stock – AMC Entertainment (NYSE:AMC) Posts Quarterly Earnings Results
AMC Entertainment (NYSE:AMC) issued its quarterly earnings data on Wednesday. The company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.12), MarketWatch Earnings reports. The business had revenue of $148.30 million during the quarter, compared to the consensus estimate of $161.18 million. During the same quarter last year, the firm posted ($2.22) earnings per share. The business’s revenue was down 84.2% on a year-over-year basis.
Shares of AMC stock traded up $0.52 during midday trading on Friday, reaching $9.52. 1,520,792 shares of the company traded hands, compared to its average volume of 137,438,609. The firm’s 50 day simple moving average is $10.33 and its two-hundred day simple moving average is $6.20. AMC Entertainment has a 1-year low of $1.91 and a 1-year high of $20.36. The firm has a market cap of $4.29 billion, a PE ratio of -0.28 and a beta of 2.48.
In other news, CFO Sean D. Goodman sold 45,404 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $9.49, for a total transaction of $430,883.96. Following the completion of the transaction, the chief financial officer now directly owns 156,705 shares of the company’s stock, valued at approximately $1,487,130.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kevin M. Connor sold 36,179 shares of AMC Entertainment stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $13.56, for a total transaction of $490,587.24. Following the completion of the sale, the senior vice president now directly owns 113,323 shares of the company’s stock, valued at $1,536,659.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,844,579 shares of company stock valued at $25,709,103. Insiders own 1.60% of the company’s stock.
Several equities research analysts have recently weighed in on AMC shares. Wedbush increased their target price on shares of AMC Entertainment from $2.50 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 9th. B. Riley upgraded shares of AMC Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $7.00 to $13.00 in a research note on Monday, April 5th. UBS Group assumed coverage on shares of AMC Entertainment in a research note on Wednesday, March 10th. They set a “sell” rating for the company. MKM Partners downgraded shares of AMC Entertainment from a “neutral” rating to a “sell” rating and set a $1.00 price objective for the company. in a research report on Monday, February 1st. Finally, Zacks Investment Research downgraded shares of AMC Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, March 30th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.00.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 12, 2021, it operated approximately 1000 theatres and 10,700 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.
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