AMC Entertainment (NYSE:AMC) Issues Q2 2024 Earnings Guidance

AMC Entertainment (NYSE:AMC) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.100–0.100 for the period, compared to the consensus EPS estimate of -0.470. The company issued revenue guidance of $1.0 billion-$1.0 billion, compared to the consensus revenue estimate of $1.0 billion.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Macquarie increased their price target on shares of AMC Entertainment from $3.50 to $4.00 and gave the company an underperform rating in a report on Tuesday, July 9th. Citigroup raised their price target on shares of AMC Entertainment from $3.10 to $3.20 and gave the stock a sell rating in a research note on Tuesday, May 14th. Finally, Wedbush raised their price target on shares of AMC Entertainment from $3.50 to $4.00 and gave the stock a neutral rating in a research note on Tuesday. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of Reduce and an average target price of $5.37.

AMC Entertainment Price Performance

AMC stock traded down $0.39 during midday trading on Wednesday, reaching $4.69. 23,661,181 shares of the company’s stock traded hands, compared to its average volume of 35,265,895. The company has a market capitalization of $1.39 billion, a P/E ratio of -3.69 and a beta of 1.84. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $54.80. The business has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $4.32.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.16). The firm had revenue of $951.40 million for the quarter, compared to the consensus estimate of $951.40 million. As a group, research analysts forecast that AMC Entertainment will post -0.84 earnings per share for the current fiscal year.

AMC Entertainment Company Profile

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.