Zacks Investment Research Lowers AMC Entertainment (NYSE:AMC) to Sell

Zacks Investment Research lowered shares of AMC Entertainment (NYSE:AMC) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

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. “

A number of other equities research analysts also recently commented on the company. Roth Capital initiated coverage on AMC Entertainment in a research report on Friday, July 19th. They issued an outperform rating and a $18.00 price objective for the company. B. Riley reaffirmed a buy rating and issued a $22.00 price objective (up previously from $19.00) on shares of AMC Entertainment in a research report on Friday, August 9th. ValuEngine raised AMC Entertainment from a buy rating to a strong-buy rating in a research report on Thursday, August 8th. Loop Capital reaffirmed a hold rating on shares of AMC Entertainment in a research report on Wednesday, July 3rd. Finally, Credit Suisse Group initiated coverage on AMC Entertainment in a research report on Friday, July 19th. They issued an outperform rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. AMC Entertainment currently has a consensus rating of Buy and an average target price of $16.05.

Shares of NYSE:AMC opened at $11.15 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of 85.77 and a beta of 0.85. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 7.30. AMC Entertainment has a 52 week low of $8.73 and a 52 week high of $21.45. The business has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $12.97.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.46 billion. AMC Entertainment had a negative return on equity of 10.94% and a negative net margin of 0.20%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 earnings per share. Sell-side analysts expect that AMC Entertainment will post -0.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date of this dividend is Friday, September 6th. AMC Entertainment’s payout ratio is currently 615.38%.

A number of institutional investors have recently modified their holdings of AMC. Stifel Financial Corp acquired a new position in AMC Entertainment in the fourth quarter valued at approximately $140,000. Geode Capital Management LLC lifted its holdings in AMC Entertainment by 11.6% in the fourth quarter. Geode Capital Management LLC now owns 556,016 shares of the company’s stock valued at $6,827,000 after acquiring an additional 57,953 shares during the period. Legal & General Group Plc lifted its holdings in AMC Entertainment by 16.0% in the fourth quarter. Legal & General Group Plc now owns 9,306 shares of the company’s stock valued at $114,000 after acquiring an additional 1,287 shares during the period. Dimensional Fund Advisors LP lifted its holdings in AMC Entertainment by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,959,453 shares of the company’s stock valued at $24,062,000 after acquiring an additional 74,905 shares during the period. Finally, Norges Bank acquired a new position in AMC Entertainment in the fourth quarter valued at approximately $12,816,000. Hedge funds and other institutional investors own 48.64% of the company’s stock.

AMC Entertainment Company Profile

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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