AMC Entertainment (AMC) Price Target Lowered to $17.00 at Benchmark

AMC Entertainment (NYSE:AMC) had its price objective decreased by Benchmark from $20.00 to $17.00 in a research note released on Monday, The Fly reports. Benchmark currently has a buy rating on the stock.

A number of other brokerages have also weighed in on AMC. MKM Partners cut their price objective on AMC Entertainment from $17.00 to $16.00 and set a neutral rating on the stock in a research report on Friday, April 12th. ValuEngine upgraded AMC Entertainment from a hold rating to a buy rating in a research report on Tuesday, April 9th. Imperial Capital lifted their price objective on AMC Entertainment from $22.00 to $23.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Wedbush reiterated an outperform rating and issued a $20.00 price objective (down from $22.00) on shares of AMC Entertainment in a research report on Monday, April 29th. Finally, B. Riley upgraded AMC Entertainment from a neutral rating to a buy rating and lifted their price objective for the stock from $18.00 to $20.00 in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $18.78.

AMC opened at $13.40 on Monday. The company has a market cap of $1.41 billion, a P/E ratio of 103.08 and a beta of 0.94. AMC Entertainment has a 1 year low of $11.66 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.33 and a current ratio of 0.33.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.74). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. AMC Entertainment had a negative return on equity of 11.59% and a negative net margin of 0.72%. AMC Entertainment’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. Research analysts forecast that AMC Entertainment will post -0.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.97%. AMC Entertainment’s dividend payout ratio is currently 615.38%.

In other news, EVP John D. Mcdonald sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $15.75, for a total value of $118,125.00. Following the completion of the transaction, the executive vice president now owns 54,746 shares in the company, valued at approximately $862,249.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lombard Odier Asset Management USA Corp purchased a new position in shares of AMC Entertainment in the 1st quarter valued at approximately $185,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of AMC Entertainment by 697.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,250 shares of the company’s stock valued at $33,000 after purchasing an additional 1,968 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of AMC Entertainment by 131.2% in the 1st quarter. Advisors Asset Management Inc. now owns 473,738 shares of the company’s stock valued at $7,035,000 after purchasing an additional 268,799 shares during the period. SEI Investments Co lifted its stake in shares of AMC Entertainment by 2.5% in the 1st quarter. SEI Investments Co now owns 104,720 shares of the company’s stock valued at $1,555,000 after purchasing an additional 2,547 shares during the period. Finally, Jefferies Group LLC lifted its stake in shares of AMC Entertainment by 78.6% in the 1st quarter. Jefferies Group LLC now owns 38,575 shares of the company’s stock valued at $573,000 after purchasing an additional 16,972 shares during the period. Institutional investors own 51.87% 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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