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

AMC Entertainment (NYSE:AMC) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.100–0.100 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

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

AMC Entertainment Price Performance

AMC Entertainment stock traded up $0.44 during mid-day trading on Thursday, reaching $5.14. 20,694,036 shares of the company traded hands, compared to its average volume of 35,158,480. The firm’s fifty day moving average is $4.94 and its two-hundred day moving average is $4.33. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.92 and a beta of 1.84. AMC Entertainment has a fifty-two week low of $2.38 and a fifty-two week high of $54.60.

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

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.