AMC Entertainment Holdings, Inc. (NYSE:AMC) Reports Earnings of ($0.22) per Share for the Third Quarter of 2022, Wedbush Forecasts

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) – Investment analysts at Wedbush have raised their estimates of earnings per share (EPS) for the third quarter of 2022 for AMC Entertainment stocks in a research report published on Thursday, was released to customers and investors on November 3rd. Wedbush analyst A. Reese now expects the company to report earnings per share for the quarter of ($0.22), up from its previous estimate of ($0.27). Wedbush currently has an underperform rating and a price target of $1.00 on the stock. The consensus estimate for AMC Entertainment’s current full year earnings is ($0.69) per share. Wedbush also released estimates for AMC Entertainment’s Q4 2022 earnings at ($0.23) EPS, FY 2022 at ($1.21) EPS, Q1 2023 at ($0.10) EPS, Q2 2023 at ($0.06) EPS, Q3 2023 Earnings at ($0.11) EPS , Q4 2023 Earnings at ($0.11) EPS, FY2023 Earnings at ($0.38) EPS, Q1 2024 Earnings at ($0.09) EPS , Q2 2024 Earnings at ($0.05) EPS, Q3 2024 Earnings at ($0.10) EPS and FY2024 Earnings at ($0.33). ) ENV.

AMC Entertainment (NYSE:AMC – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $1.17 billion in the quarter, compared to analyst estimates of $1.18 billion. The company’s quarterly revenue increased 162.3% compared to the same quarter last year. For the same period last year, the company posted ($0.18) EPS.

Several other research firms have also recently commented on AMC. B. Riley lowered its price target on AMC Entertainment shares to $7.50 from $11.00 and gave the stock a neutral rating in a research note on Wednesday, October 12. Citigroup lowered its target price on shares of AMC Entertainment from $3.13 to $1.20 in a report on Sunday. Goldman Sachs Group lowered its target price on AMC Entertainment shares to $8.50, giving the stock a neutral rating in a research report on Friday, July 29. StockNews.com began reporting on AMC Entertainment on Wednesday, October 12th. They gave the company a sell rating. Finally, MKM Partners lowered its price target on AMC Entertainment to $0.50 in a research report on Tuesday, September 6th. Three investment analysts have rated the stock with a sell rating and two have rated the company’s stock with a hold rating. According to MarketBeat, the company has a consensus rating of Reduce and an average target price of $3.74.

AMC Entertainment stock performance

AMC Entertainment stock opened at $5.65 on Monday. The stock has a market cap of $2.92 billion, a P/E of -3.55 and a beta of 1.61. AMC Entertainment has a 52-week low of $5.42 and a 52-week high of $45.95. The company’s 50-day simple moving average is $7.54 and its 200-day simple moving average is $5.30.

Hedge funds influence AMC Entertainment

Hedge funds and other institutional investors have recently changed their stock holdings. Covestor Ltd increased its stake in AMC Entertainment by 417.6% in the first quarter. Covestor Ltd now owns 1,061 shares of the company, valued at $26,000, after purchasing an additional 856 shares last quarter. Allworth Financial LP increased its stake in AMC Entertainment stock by 46.6% during the second quarter. Allworth Financial LP now owns 2,224 shares of the company’s stock valued at $30,000 after purchasing an additional 707 shares last quarter. San Luis Wealth Advisors LLC acquired a new position in AMC Entertainment stock valued at approximately $31,000 during the first quarter. Fifth Third Bancorp increased its stake in AMC Entertainment by 1,197.2% during the first quarter. Fifth Third Bancorp now owns 1,375 shares of the company’s stock valued at $34,000 after purchasing an additional 1,269 shares during the period. Finally, during the first quarter, SJS Investment Consulting Inc. acquired a new interest in AMC Entertainment stock valued at approximately $37,000. Hedge funds and other institutional investors own 27.73% of the company’s shares.

About AMC Entertainment

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AMC Entertainment Holdings, Inc, through its subsidiaries, is engaged in the theatrical exhibition business. The Company owns, operates or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Earnings History and Estimates for AMC Entertainment (NYSE:AMC)

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