Barclays PLC cut shares of AMC Entertainment Holdings Inc (NYSE:AMC) from an overweight rating to an equal weight rating in a report released on Wednesday, July 19th, MarketBeat reports. The brokerage currently has $25.00 price objective on the stock, down from their prior price objective of $31.00.
A number of other brokerages have also recently weighed in on AMC. FBR & Co reaffirmed a buy rating and set a $37.00 price target on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. Citigroup Inc. reduced their target price on shares of AMC Entertainment Holdings from $36.00 to $35.00 and set a buy rating on the stock in a research report on Friday, June 9th. B. Riley reissued a buy rating and set a $47.50 target price on shares of AMC Entertainment Holdings in a research report on Wednesday, March 29th. MKM Partners reaffirmed a buy rating and issued a $36.00 price target (down from $45.00) on shares of AMC Entertainment Holdings in a report on Friday, June 9th. Finally, Wedbush reiterated an outperform rating and set a $40.00 target price on shares of AMC Entertainment Holdings in a research note on Monday, April 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $29.96.
AMC Entertainment Holdings (NYSE AMC) traded up 0.38% during trading on Wednesday, reaching $13.30. The company had a trading volume of 2,567,884 shares. AMC Entertainment Holdings has a 12-month low of $12.90 and a 12-month high of $35.65. The stock’s market capitalization is $1.74 billion. The stock has a 50 day moving average of $19.63 and a 200-day moving average of $26.46.
AMC Entertainment Holdings (NYSE:AMC) last released its 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. AMC Entertainment Holdings had a negative net margin of 14.68% and a negative return on equity of 27.88%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. AMC Entertainment Holdings’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, analysts forecast that AMC Entertainment Holdings will post ($1.01) earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.02%. AMC Entertainment Holdings’s payout ratio is presently -125.00%.
AMC Entertainment Holdings declared that its Board of Directors has initiated a share buyback plan on Thursday, August 3rd that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 58% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CEO Adam M. Aron acquired 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average cost of $24.72 per share, for a total transaction of $247,200.00. Following the completion of the transaction, the chief executive officer now directly owns 90,426 shares in the company, valued at $2,235,330.72. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Kevin M. Connor acquired 4,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of $23.52 per share, with a total value of $94,080.00. Following the completion of the transaction, the senior vice president now owns 40,705 shares of the company’s stock, valued at $957,381.60. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of AMC Entertainment Holdings during the fourth quarter worth about $275,000. State Street Corp boosted its position in AMC Entertainment Holdings by 46.8% in the fourth quarter. State Street Corp now owns 524,205 shares of the company’s stock valued at $17,643,000 after buying an additional 167,135 shares during the period. Dimensional Fund Advisors LP boosted its position in AMC Entertainment Holdings by 43.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,276,276 shares of the company’s stock valued at $42,948,000 after buying an additional 388,183 shares during the period. FMR LLC boosted its position in AMC Entertainment Holdings by 5,837.8% in the fourth quarter. FMR LLC now owns 723,524 shares of the company’s stock valued at $24,347,000 after buying an additional 711,339 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its position in AMC Entertainment Holdings by 41.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,797 shares of the company’s stock valued at $700,000 after buying an additional 6,127 shares during the period. Hedge funds and other institutional investors own 43.07% of the company’s stock.
About AMC Entertainment Holdings
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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