Wedbush Comments on AMC Entertainment Holdings, Inc.’s Q2 2022 Earnings (NYSE:AMC)

AMC Entertainment Holdings, Inc. (NYSE:AMCGet Rating) – Research analysts at Wedbush decreased their Q2 2022 earnings per share (EPS) estimates for shares of AMC Entertainment in a note issued to investors on Tuesday, May 10th. Wedbush analyst A. Reese now anticipates that the company will post earnings of ($0.33) per share for the quarter, down from their prior forecast of ($0.21). Wedbush also issued estimates for AMC Entertainment’s Q3 2022 earnings at ($0.37) EPS, Q4 2022 earnings at ($0.24) EPS, Q1 2023 earnings at ($0.14) EPS, Q2 2023 earnings at ($0.05) EPS, Q3 2023 earnings at ($0.12) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.35) EPS and FY2024 earnings at ($0.32) EPS.

AMC has been the subject of a number of other reports. Zacks Investment Research lowered shares of AMC Entertainment from a “hold” rating to a “sell” rating in a report on Tuesday. StockNews.com started coverage on shares of AMC Entertainment in a report on Thursday, March 31st. They issued a “sell” rating for the company. Five investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to data from MarketBeat, AMC Entertainment presently has an average rating of “Sell” and an average price target of $17.63.

Shares of AMC opened at $11.81 on Thursday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -5.73 and a beta of 1.71. AMC Entertainment has a fifty-two week low of $9.70 and a fifty-two week high of $72.62. The firm has a 50 day moving average price of $17.42 and a 200-day moving average price of $23.29.

AMC Entertainment (NYSE:AMCGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.02). The firm had revenue of $785.70 million for the quarter, compared to analysts’ expectations of $736.23 million. The business’s revenue was up 429.8% on a year-over-year basis. During the same period last year, the firm posted ($1.42) EPS.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of AMC Entertainment by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 47,381,679 shares of the company’s stock worth $1,167,484,000 after buying an additional 296,013 shares during the period. BlackRock Inc. grew its position in shares of AMC Entertainment by 1.0% in the 1st quarter. BlackRock Inc. now owns 43,321,127 shares of the company’s stock worth $1,067,431,000 after buying an additional 428,358 shares during the period. State Street Corp grew its position in shares of AMC Entertainment by 1.3% in the 4th quarter. State Street Corp now owns 13,286,116 shares of the company’s stock worth $361,382,000 after buying an additional 171,759 shares during the period. Geode Capital Management LLC grew its position in shares of AMC Entertainment by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 9,121,992 shares of the company’s stock worth $247,909,000 after buying an additional 423,548 shares during the period. Finally, Northern Trust Corp grew its position in shares of AMC Entertainment by 0.3% in the 4th quarter. Northern Trust Corp now owns 5,795,137 shares of the company’s stock worth $157,627,000 after buying an additional 15,617 shares during the period. 34.20% of the stock is currently owned by institutional investors and hedge funds.

In other AMC Entertainment news, EVP Elizabeth F. Frank sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $29.91, for a total transaction of $598,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Stephen A. Colanero sold 69,005 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $15.59, for a total transaction of $1,075,787.95. The disclosure for this sale can be found here. Insiders have sold a total of 354,070 shares of company stock valued at $6,664,426 over the last quarter. 0.58% of the stock is currently owned by company insiders.

About AMC Entertainment (Get Rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950 theatres 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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