AMC Entertainment (NYSE:AMC) Releases Q1 2024 Earnings Guidance

AMC Entertainment (NYSE:AMC) issued an update on its first quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of -0.620–0.620 for the period, compared to the consensus earnings per share estimate of -0.790. The company issued revenue guidance of $951.4 million-$951.4 million, compared to the consensus revenue estimate of $861.1 million. AMC Entertainment also updated its Q1 guidance to $(0.62) EPS.

AMC Entertainment Trading Up 4.0 %

NYSE AMC traded up $0.13 on Friday, reaching $3.41. The company’s stock had a trading volume of 15,198,065 shares, compared to its average volume of 15,580,860. The firm has a market cap of $897.78 million, a PE ratio of -1.45 and a beta of 1.62. AMC Entertainment has a 52 week low of $2.38 and a 52 week high of $62.30. The business has a 50-day moving average price of $3.86 and a 200 day moving average price of $5.77.

AMC Entertainment (NYSE:AMC) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.16. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Analysts anticipate that AMC Entertainment will post -1.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on AMC. B. Riley reduced their target price on AMC Entertainment from $12.00 to $8.00 and set a neutral rating on the stock in a report on Thursday, February 29th. Wedbush decreased their target price on AMC Entertainment from $6.00 to $4.00 and set a neutral rating on the stock in a report on Thursday, April 18th. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, AMC Entertainment currently has a consensus rating of Reduce and an average target price of $5.95.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.