AMC Entertainment (NYSE:AMC) price target was lowered to $1.20 by analysts at Citigroup

AMC Entertainment (NYSE:AMC – Rating Received) Its price target was cut from $3.13 to $1.20 by research analysts at Citigroup in a research report issued to clients and investors on Sunday, reports The Fly. Citigroup’s price target indicates a potential downside of 78.76% from the stock’s current price.

Other equity analysts have also published reports on the company. StockNews.com began coverage of AMC Entertainment in a Research Note on Wednesday, October 12th. They gave the stock a “sell” rating. B. Riley lowered its price target on AMC Entertainment to $7.50 from $11.00 and gave the stock a neutral rating in a research report on Wednesday, October. Wedbush reiterated an underperform rating and a $1.00 target price on AMC Entertainment shares in a research report on Tuesday, August 2nd. MKM Partners lowered its price target on AMC Entertainment to $0.50 in a research report on Tuesday, September 6th. Finally, Goldman Sachs Group lowered its price target on AMC Entertainment to $8.50 and gave the stock a neutral rating in a research report on Friday, July 29. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Based on data from MarketBeat.com, AMC Entertainment currently has an average rating of Reduce and a consensus price target of $3.74.

AMC Entertainment is down 0.9%

AMC shares fell $0.05 during Friday trading to hit $5.65. The company had a trading volume of 18,134,587 shares compared to an average volume of 21,392,060. The company has a 50-day moving average of $7.54 and a 200-day moving average of $5.30. AMC Entertainment has a yearly low of $5.42 and a yearly high of $45.95. The stock has a market cap of $2.92 billion, a P/E of -3.55 and a beta of 1.61.

AMC Entertainment (NYSE:AMC – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $1.17 billion in the quarter, compared to analyst estimates of $1.18 billion. For the same period last year, the company reported ($0.18) earnings per share. AMC Entertainment’s quarterly revenue increased 162.3% compared to the same quarter last year. Research analysts are forecasting that AMC Entertainment will post -0.69 EPS for the year to date.

Insider buys and sells at AMC Entertainment

In related news, CAO Chris A. Cox sold 12,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $25.00 for a total transaction of $300,000.00. Following the closing of the sale, the Chief Accounting Officer now owns 1,250 shares of the company, valued at $31,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this link. Company insiders own 0.22% of the company’s shares.

Institutional trading by AMC Entertainment

Major investors recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in AMC Entertainment by 417.6% in the first quarter. Covestor Ltd now owns 1,061 shares of the company, valued at $26,000, after purchasing an additional 856 shares last quarter. San Luis Wealth Advisors LLC acquired a new position in AMC Entertainment stock valued at approximately $31,000 during the first quarter. Fifth Third Bancorp increased its stake in AMC Entertainment by 1,197.2% during the first quarter. Fifth Third Bancorp now owns 1,375 shares of the company’s stock, valued at $34,000, after purchasing an additional 1,269 shares last quarter. SJS Investment Consulting Inc. acquired a new position in AMC Entertainment stock valued at approximately $37,000 during the first quarter. Finally, during the first quarter, Prospera Financial Services Inc acquired a new position in AMC Entertainment stock valued at approximately $38,000. Hedge funds and other institutional investors own 27.73% of the company’s shares.

Company Profile of AMC Entertainment

(received rating)

AMC Entertainment Holdings, Inc, through its subsidiaries, is engaged in the theatrical exhibition business. The Company owns, operates or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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