AMC Entertainment (NYSE:AMC) Issues Earnings Results, Beats Expectations By $0.03 EPS

AMC Entertainment (NYSE:AMC) released its quarterly earnings results on Wednesday. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03, Briefing.com reports. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. AMC Entertainment’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share.

AMC Entertainment Trading Down 6.1 %

NYSE AMC traded down $0.28 during trading hours on Thursday, reaching $4.30. 15,734,708 shares of the company traded hands, compared to its average volume of 26,289,707. The company has a 50 day moving average of $4.52 and a two-hundred day moving average of $4.65. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $11.88. The stock has a market capitalization of $1.55 billion, a PE ratio of -2.88 and a beta of 1.83.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMC shares. Morgan Stanley lowered their price target on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Monday, August 12th. Wedbush reaffirmed a “neutral” rating and set a $4.00 price target on shares of AMC Entertainment in a report on Monday, August 5th. B. Riley lowered their price target on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Benchmark reiterated a “hold” rating on shares of AMC Entertainment in a research note on Thursday. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.44.

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.