AMC Entertainment Holdings (NYSE:AMC) declared that its board has authorized a share repurchase plan, which allows the company to repurchase $100.00 million in shares on Thursday, August 3rd, EventVestor reports. This repurchase authorization allows the company to reacquire up to 58% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Shares of AMC Entertainment Holdings (NYSE AMC) opened at 16.15 on Wednesday. AMC Entertainment Holdings has a 1-year low of $14.80 and a 1-year high of $35.65. The stock’s 50 day moving average is $21.44 and its 200-day moving average is $27.53. The firm has a market cap of $2.11 billion, a PE ratio of 18.44 and a beta of 1.31.
AMC Entertainment Holdings (NYSE:AMC) last announced its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $1.41. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. AMC Entertainment Holdings had a negative return on equity of 3.61% and a negative net margin of 2.49%. The company’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts expect that AMC Entertainment Holdings will post ($1.07) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Monday, September 11th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s dividend payout ratio is currently -125.00%.
A number of research analysts recently weighed in on AMC shares. Wedbush reaffirmed an “outperform” rating and issued a $40.00 target price on shares of AMC Entertainment Holdings in a research report on Tuesday, April 11th. Zacks Investment Research raised shares of AMC Entertainment Holdings from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research report on Wednesday, April 12th. Barclays PLC raised their target price on shares of AMC Entertainment Holdings from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. FBR & Co reaffirmed a “buy” rating and issued a $37.00 target price on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. Finally, B. Riley reaffirmed a “buy” rating and issued a $49.50 target price on shares of AMC Entertainment Holdings in a research report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. AMC Entertainment Holdings currently has an average rating of “Hold” and an average price target of $29.96.
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In related news, SVP Kevin M. Connor bought 4,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were acquired at an average cost of $23.52 per share, with a total value of $94,080.00. Following the completion of the purchase, the senior vice president now directly owns 40,705 shares of the company’s stock, valued at approximately $957,381.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam M. Aron bought 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was bought at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the completion of the purchase, the chief executive officer now directly owns 90,426 shares of the company’s stock, valued at $2,235,330.72. The disclosure for this purchase can be found here. Company insiders own 0.80% of the company’s stock.
AMC Entertainment Holdings Company Profile
AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.
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