AMC Entertainment Holdings, Inc. (AMC) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) from a hold rating to a buy rating in a report issued on Tuesday, October 17th. Zacks Investment Research currently has $15.00 price objective on the stock.

According to Zacks, “AMC Entertainment Holdings, Inc., operates as a theatrical exhibition company primarily in the United States and internationally. It owned or interests in theatres and screens. AMC Entertainment Holdings, Inc. is based in Leawood, Kansas. “

Several other brokerages also recently commented on AMC. BidaskClub downgraded AMC Entertainment Holdings from a sell rating to a strong sell rating in a research note on Friday, June 23rd. Credit Suisse Group reduced their target price on AMC Entertainment Holdings from $26.00 to $20.00 and set an underperform rating for the company in a research note on Friday, June 23rd. Loop Capital reiterated a buy rating and set a $39.00 target price on shares of AMC Entertainment Holdings in a research note on Monday, July 10th. Barrington Research restated an outperform rating and issued a $23.00 price target on shares of AMC Entertainment Holdings in a research note on Wednesday, August 2nd. Finally, Wedbush set a $23.00 price target on AMC Entertainment Holdings and gave the company a buy rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $26.46.

AMC Entertainment Holdings (AMC) traded down 0.170% during trading on Tuesday, reaching $14.675. 698,318 shares of the company’s stock traded hands. The company has a 50-day moving average of $14.77 and a 200 day moving average of $20.48. AMC Entertainment Holdings has a 12 month low of $12.05 and a 12 month high of $35.65. The stock’s market capitalization is $1.92 billion.

AMC Entertainment Holdings (NYSE:AMC) last posted its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($1.41). The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, equities research analysts expect that AMC Entertainment Holdings will post ($1.12) earnings per share for the current fiscal year.

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AMC Entertainment Holdings declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 58% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Monday, September 11th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Friday, September 8th. AMC Entertainment Holdings’s payout ratio is -125.00%.

In other AMC Entertainment Holdings news, Director Jack Qunyao Gao acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was bought at an average price of $12.50 per share, with a total value of $250,000.00. Following the completion of the purchase, the director now owns 30,500 shares of the company’s stock, valued at $381,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam M. Aron purchased 35,000 shares of the stock in a transaction on Thursday, September 14th. The shares were purchased at an average price of $15.79 per share, for a total transaction of $552,650.00. Following the transaction, the chief executive officer now directly owns 125,426 shares of the company’s stock, valued at $1,980,476.54. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 62,000 shares of company stock valued at $896,940. 0.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its holdings in shares of AMC Entertainment Holdings by 272.8% in the second quarter. Federated Investors Inc. PA now owns 463,400 shares of the company’s stock worth $10,542,000 after buying an additional 339,100 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in shares of AMC Entertainment Holdings by 15.7% in the second quarter. Thompson Siegel & Walmsley LLC now owns 908,121 shares of the company’s stock worth $20,660,000 after buying an additional 123,028 shares during the period. Brookstone Capital Management purchased a new position in shares of AMC Entertainment Holdings in the second quarter worth about $269,000. B. Riley Financial Inc. increased its holdings in shares of AMC Entertainment Holdings by 56.3% in the second quarter. B. Riley Financial Inc. now owns 25,985 shares of the company’s stock worth $591,000 after buying an additional 9,364 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of AMC Entertainment Holdings by 74.7% in the first quarter. Alliancebernstein L.P. now owns 75,348 shares of the company’s stock worth $2,370,000 after buying an additional 32,223 shares during the period. Hedge funds and other institutional investors own 46.82% 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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