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

AMC Entertainment (NYSE:AMC) posted its quarterly earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03, Briefing.com reports. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the previous year, the business earned ($0.09) earnings per share. AMC Entertainment’s revenue was down 4.1% compared to the same quarter last year.

AMC Entertainment Trading Down 0.5 %

NYSE:AMC opened at $4.28 on Friday. The company has a 50-day moving average price of $4.50 and a 200-day moving average price of $4.65. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -2.66 and a beta of 1.83. AMC Entertainment has a 12 month low of $2.38 and a 12 month high of $11.88.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $4.00 target price on shares of AMC Entertainment in a report on Monday, August 5th. Morgan Stanley cut their price target on shares of AMC Entertainment from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Monday, August 12th. Benchmark reaffirmed a “hold” rating on shares of AMC Entertainment in a research note on Thursday. Finally, B. Riley cut their target price on AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.