Citigroup Forecasts Strong Price Appreciation for AMC Entertainment (NYSE:AMC) Stock

AMC Entertainment (NYSE:AMC) had its price objective boosted by equities researchers at Citigroup from $1.10 to $1.20 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s price objective indicates a potential downside of 20.21% from the stock’s previous close.

A number of other research analysts have also commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of AMC Entertainment in a research note on Monday, April 20th. B. Riley Financial restated a “neutral” rating on shares of AMC Entertainment in a research note on Friday, April 17th. Benchmark upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Wednesday. Macquarie Infrastructure cut their target price on AMC Entertainment from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, January 15th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $2.00 price target on shares of AMC Entertainment in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, AMC Entertainment currently has an average rating of “Hold” and a consensus price target of $2.45.

AMC Entertainment Trading Down 1.1%

Shares of NYSE AMC opened at $1.50 on Thursday. The business has a fifty day simple moving average of $1.29 and a 200 day simple moving average of $1.69. The firm has a market capitalization of $796.44 million, a price-to-earnings ratio of -1.42 and a beta of 2.14. AMC Entertainment has a one year low of $0.93 and a one year high of $4.08.

AMC Entertainment (NYSE:AMC) last issued its earnings results on Tuesday, May 5th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $979.19 million. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.58) EPS. On average, research analysts anticipate that AMC Entertainment will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of AMC Entertainment by 13.1% in the 3rd quarter. Vanguard Group Inc. now owns 50,119,260 shares of the company’s stock worth $145,346,000 after acquiring an additional 5,793,996 shares in the last quarter. UBS Group AG boosted its holdings in shares of AMC Entertainment by 4,537.9% in the 3rd quarter. UBS Group AG now owns 23,194,957 shares of the company’s stock worth $67,265,000 after acquiring an additional 22,694,842 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AMC Entertainment by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 12,254,550 shares of the company’s stock worth $19,121,000 after purchasing an additional 1,029,668 shares during the last quarter. State Street Corp grew its holdings in shares of AMC Entertainment by 12.7% during the fourth quarter. State Street Corp now owns 11,349,046 shares of the company’s stock worth $17,705,000 after purchasing an additional 1,278,974 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of AMC Entertainment by 20.6% during the fourth quarter. Renaissance Technologies LLC now owns 8,009,819 shares of the company’s stock worth $12,495,000 after purchasing an additional 1,369,000 shares during the last quarter. 28.80% of the stock is owned by institutional investors and hedge funds.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates as a leading movie exhibition company, specializing in the presentation of theatrical motion pictures across a network of multiplex cinemas. The company’s core business activities encompass ticket sales, concession and refreshment services, and the licensing of premium viewing formats. AMC offers a variety of auditorium experiences, including IMAX®, Dolby Cinema™, and Cinemark’s RealD 3D systems, designed to enhance audience engagement through superior sound, visual clarity, and seating comfort.

Originally founded in 1920 with its first theatre in Kansas City, AMC has evolved into one of the largest theater chains in the world.