Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for nasdaq holidays 2021 AMC Entertainment. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability. AMC’s full-year Zacks Consensus Estimates are calling for earnings of -$0.67 per share and revenue of $4.96 billion. These results would represent year-over-year changes of +47.66% and +7.04%, respectively. The movie theater operator’s shares have seen a decrease of 7.89% over the last month, not keeping up with the Consumer Discretionary sector’s loss of 7.24% and the S&P 500’s loss of 6.3%.
What’s Going On With AMC Entertainment Stock?
However, AMC expressed concerns that the Hollywood Strikes from 2023 would continue to impact the second-quarter box interactive brokers 2021 review office. Theater upgrades in Europe could increase per-screen average, the analyst said. The analyst said this may not happen until the balance sheet improves.
At $435.3 million for the second quarter, that’s down 12% year over year and has plummeted 75% in the last two years. In short – it makes sense why AMC is still forging ahead with its share sale plans despite a relatively positive earnings beat. The units had only been publicly traded on the New York Stock Exchange for a year, and the conversion only went ahead after a settlement was reached with its shareholders. Under the agreement, AMC will provide an estimated $129 million of stock to common shareholders to nix any legal claims about the stock conversion plan in the bud.
Related Companies and Tools
In the case of AMC, which is trading at $2.83 as of publishing time, $100 would buy you 35.34 shares of stock. Ironically, the stock price plunge might boost short interest and start the memestock cycle all over again. It’s all fun and games, but AMC has to get serious about fixing its free cash flow or risk bankruptcy.
AMC reported earnings of 1 cent per share on revenue of $1.35 billion, far surpassing analyst expectations of a loss of 4 cents per share on $1.29 billion revenue. Despite a strong latest quarterly earnings beat, AMC is still struggling to stay afloat – and is being pretty open about its financial woes. That hasn’t helped the share price recover, nor does it look set to do so anytime soon if AMC plans more share sales.
About MarketBeat
Aron highlighted anticipated box office strength in 2025 and 2026 and noted that AMC has enough cash to get through 2024. Last quarter, AMC said it had $884.3 million in cash and cash equivalents. Select to analyze similar companies using key performance metrics; select up to 4 stocks. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups.
AMC Entertainment (AMC) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Discover which analysts rank highest for AMC overall weighted by direction, price target, and price movement. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since fx choice review 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 5.91% downward. AMC Entertainment presently features a Zacks Rank of #3 (Hold). On Thursday, the company introduced a new rewards tier to its AMC Stubs program.
A newsletter built for market enthusiasts by market enthusiasts. Top stories, top movers, and trade ideas delivered to your inbox every weekday before and after the market closes. If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to ‘go short’ a share of stock by lending you the shares to sell.
- AMC also noted that this year’s Black Friday was the second highest total revenue day in company history.
- AMC Entertainment Holdings, Inc owns, operates, or has an interest in cinema theatres in the United States and Europe but has also expanded into digital and streaming media.
- Cinema chain and memestock star AMC saw its stock crater again this week after announcing plans to sell more of its common shares.
- The 1-10 reverse split was announced on Monday, August 14th 2023.
The company also announced that select AMC locations will offer “Wicked Singalong” showtimes starting in late December. AMC Entertainment scored higher than 66% of companies evaluated by MarketBeat, and ranked 157th out of 277 stocks in the consumer discretionary sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.
AMC Entertainment Stock Is Surging Monday: What’s Going On?
- AMC noted that its merchandise program for “Wicked” was well received with collectibles selling out about halfway through the weekend.
- That’s on top of a 35% share price slide that happened after AMC converted its stock in August, taking AMC’s share price down 83.7% since the start of the year.
- The company pre-announced first-quarter revenue of $951.4 million recently.
- Before this week’s announcement, a flurry of activity in AMC stock in recent weeks has left investors uneasy.
Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer. Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
In addition to entertainment, AMC Entertainment has a number of options for businesses and organizations that include big-screen supported meetings and events. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. By now you’re likely curious about how to participate in the market for AMC – be it to purchase shares, or even attempt to bet against the company. Following the offering, AMC shares fell to new lows and bankruptcy concerns climbed, but at the 2024 CinemaCon in Las Vegas last week, AMC CEO Adam Aron said a restructuring is not in the cards for AMC. The sale could represent as much as 7.7% of the 519.2 million shares outstanding. Discover which analysts rank highest on predicting the directional movement of AMC.
AMC Entertainment Holdings, Inc. (AMC)
Unlock stock picks and a broker-level newsfeed that powers Wall Street.
The previous record-low stock price close was $10.73, seen in January 2021, with Wednesday’s close considerably under that. The movie theater operator’s shares have seen a decrease of 14.85% over the last month, not keeping up with the Consumer Discretionary sector’s loss of 8.76% and the S&P 500’s loss of 7.48%. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Member rewards include free size upgrades on popcorn and fountain drinks and priority lane access. Members will also receive a free large popcorn and fountain drink birthday gift. The new tier level also frees members from online ticketing fees for ticket purchases of four or greater and offers two times the reward points, which can be redeemed for tickets and concessions.
In that report, analysts expect AMC Entertainment to post earnings of -$0.50 per share. Alongside, our most recent consensus estimate is anticipating revenue of $924.63 million, indicating a 2.81% downward movement from the same quarter last year. The plan was initially shared back in March, quickly drawing the ire of AMC shareholders and sparking litigation. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors.
AMC shares closed at a record low on Wednesday, plunging 37% to hit a price of $8.62. That’s on top of a 35% share price slide that happened after AMC converted its stock in August, taking AMC’s share price down 83.7% since the start of the year. AMC previously reached memestock status in 2021 when Reddit retail traders bought up the stock while it was heavily shorted. Since then, AMC has capitalized on the stock’s newfound notoriety by regularly issuing new shares to raise capital. That attitude helped AMC survive the pandemic, but now, investors have had enough. Discover which analysts rank highest on predicting the price target of AMC.