AMC Entertainment (NYSE:AMC) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of AMC Entertainment (NYSE:AMC) from a sell rating to a buy rating in a report issued on Wednesday, Zacks.com reports. The firm currently has $41.00 price target 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. “

Other analysts also recently issued reports about the stock. Citigroup increased their price target on shares of AMC Entertainment from $3.70 to $5.00 and gave the company a sell rating in a report on Thursday, August 19th. Wedbush reissued a hold rating and issued a $7.50 price target on shares of AMC Entertainment in a report on Thursday, August 12th. Finally, Macquarie downgraded shares of AMC Entertainment from a neutral rating to an underperform rating in a report on Wednesday, September 1st. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $10.64.

NYSE:AMC opened at $37.91 on Wednesday. AMC Entertainment has a 1 year low of $1.91 and a 1 year high of $72.62. The firm’s fifty day simple moving average is $39.91 and its 200 day simple moving average is $33.30. The firm has a market capitalization of $19.46 billion, a PE ratio of -2.26 and a beta of 1.27.

AMC Entertainment (NYSE:AMC) last posted its earnings results on Sunday, August 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.20. The firm had revenue of $444.70 million during the quarter, compared to analyst estimates of $382.11 million. During the same quarter in the previous year, the business posted ($5.44) earnings per share. The business’s quarterly revenue was up 2252.9% compared to the same quarter last year. Equities analysts anticipate that AMC Entertainment will post -2.75 EPS for the current fiscal year.

In other AMC Entertainment news, CFO Sean D. Goodman sold 45,405 shares of the firm’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $34.79, for a total value of $1,579,639.95. Following the completion of the sale, the chief financial officer now owns 111,300 shares in the company, valued at approximately $3,872,127. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.58% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AMC. Swiss National Bank grew its holdings in AMC Entertainment by 50.3% during the first quarter. Swiss National Bank now owns 195,641 shares of the company’s stock valued at $1,997,000 after purchasing an additional 65,500 shares during the period. Principal Financial Group Inc. lifted its stake in AMC Entertainment by 26.0% in the first quarter. Principal Financial Group Inc. now owns 271,886 shares of the company’s stock valued at $2,776,000 after buying an additional 56,186 shares in the last quarter. New York State Common Retirement Fund lifted its stake in AMC Entertainment by 325.2% in the first quarter. New York State Common Retirement Fund now owns 177,300 shares of the company’s stock valued at $1,810,000 after buying an additional 135,600 shares in the last quarter. Formidable Asset Management LLC bought a new position in AMC Entertainment in the first quarter valued at approximately $122,000. Finally, Prudential Financial Inc. bought a new position in AMC Entertainment in the first quarter valued at approximately $290,000. Hedge funds and other institutional investors own 24.90% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The United States segment involves in the activity in the U.S. specifically in New York, Los Angeles, Chicago, Atlanta, and Washington, DC.

Recommended Story: Understanding Market Liquidity

Get a free copy of the Zacks research report on AMC Entertainment (AMC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for AMC Entertainment (NYSE:AMC)

Receive News & Ratings for AMC Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMC Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.