AMC Entertainment (NYSE:AMC) Releases Q1 2024 Earnings Guidance

AMC Entertainment (NYSE:AMC) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -0.620–0.620 for the period, compared to the consensus estimate of -0.790. The company issued revenue guidance of $951.4 million-$951.4 million, compared to the consensus revenue estimate of $861.1 million. AMC Entertainment also updated its Q1 guidance to $(0.62) EPS.

AMC Entertainment Price Performance

NYSE:AMC traded up $0.13 during mid-day trading on Friday, reaching $3.41. The stock had a trading volume of 15,198,065 shares, compared to its average volume of 15,580,860. The business’s 50 day moving average is $3.86 and its 200 day moving average is $5.77. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $62.30. The stock has a market cap of $897.78 million, a P/E ratio of -1.45 and a beta of 1.62.

AMC Entertainment (NYSE:AMC) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Equities analysts expect that AMC Entertainment will post -1.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on AMC shares. Wedbush lowered their price target on AMC Entertainment from $6.00 to $4.00 and set a neutral rating on the stock in a report on Thursday, April 18th. B. Riley lowered their price target on AMC Entertainment from $12.00 to $8.00 and set a neutral rating on the stock in a report on Thursday, February 29th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, AMC Entertainment presently has an average rating of Reduce and a consensus price target of $5.95.

About AMC Entertainment

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.