Zacks Investment Research upgraded shares of AMC Entertainment (NYSE:AMC) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research currently has $10.00 price target on the stock.
According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “
AMC has been the subject of a number of other research reports. TheStreet lowered USD Partners from a b- rating to a c+ rating in a report on Friday, May 10th. B. Riley set a $20.00 target price on AMC Entertainment and gave the company a buy rating in a report on Wednesday, June 26th. Wedbush reaffirmed an outperform rating and set a $22.00 target price on shares of Turtle Beach in a report on Monday, April 29th. Loop Capital reaffirmed a hold rating on shares of AMC Entertainment in a report on Wednesday, July 3rd. Finally, Benchmark reduced their target price on AMC Entertainment from $20.00 to $17.00 and set a buy rating for the company in a report on Monday, May 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $17.88.
AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.74). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. AMC Entertainment had a negative return on equity of 11.59% and a negative net margin of 0.72%. The company’s revenue was down 13.2% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. As a group, sell-side analysts predict that AMC Entertainment will post -0.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.47%. AMC Entertainment’s dividend payout ratio (DPR) is presently 615.38%.
In other AMC Entertainment news, Director Raymond C. Stachowiak purchased 160,559 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $2.73 per share, for a total transaction of $438,326.07. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of AMC Entertainment in the fourth quarter worth $12,816,000. JPMorgan Chase & Co. lifted its stake in shares of AMC Entertainment by 648.9% during the 1st quarter. JPMorgan Chase & Co. now owns 864,774 shares of the company’s stock worth $12,842,000 after acquiring an additional 749,305 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $4,307,000. Assenagon Asset Management S.A. bought a new stake in shares of AMC Entertainment during the 1st quarter worth approximately $3,206,000. Finally, Penn Capital Management Co. Inc. lifted its stake in shares of AMC Entertainment by 31.9% during the 4th quarter. Penn Capital Management Co. Inc. now owns 695,076 shares of the company’s stock worth $10,009,000 after acquiring an additional 168,033 shares during the last quarter. Hedge funds and other institutional investors own 49.08% of the company’s stock.
About AMC Entertainment
AMC Entertainment Holdings, Inc, through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of December 31, 2018, it owned, operated, or had interests in 637 theatres with a total of 8,114 screens in the United States; and 369 theatres and 2,977 screens in European markets.
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