Things are looking up for AMC after a strong quarter ahead of the summer blockbuster, which should be reflected in its Q3 results later this year. But the company would prefer to risk the wrath of Wall Street than stop its plans to sell shares to raise some much-needed cash to fix its liquidity problems. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.66 per share and revenue of $5.04 billion. These totals would mark changes of +48.44% and +8.71%, respectively, from last year.
- The new tier level also frees members from online ticketing fees for ticket purchases of four or greater and offers two times the reward points, which can be redeemed for tickets and concessions.
- That hasn’t helped the share price recover, nor does it look set to do so anytime soon if AMC plans more share sales.
- The company made headlines again in 2011 with the launch of its STUBS rewards program, a premier program that offers discounts and other deals to its members.
- Analysts expect AMC to report a loss of 79 cents per share in the first quarter, compared to a loss of $1.30 per share in last year’s first quarter.
- Data from BoxOfficeMojo shows the first quarter domestic box office totaling $1.61 billion, which was down 6.6% year-over-year.
year income & revenue
Cinema chain and memestock star AMC saw its stock crater again this week after announcing plans to sell more of its common shares. The embattled company is looking to pay off sizeable debts, but recent moves like reverse stock splits and converting equity have left shareholders diametrically opposed to AMC management. Analysts and investors alike will be keeping a coinmama review close eye on the performance of AMC Entertainment in its upcoming earnings disclosure.
analyst rating
- At $435.3 million for the second quarter, that’s down 12% year over year and has plummeted 75% in the last two years.
- But on Monday, one of the chief meme-stock cheerleaders, known by the online moniker Roaring Kitty, posted a meme signaling he was planning to become active again.
- Black Friday marked the highest attendance Black Friday in AMC history and the highest revenue total on a Friday ever.
- AMC said Premiere members receive all the benefits of AMC Stubs Premiere GO!
- The previous record-low stock price close was $10.73, seen in January 2021, with Wednesday’s close considerably under that.
The Street-high target is currently at $6 and the Street-low target is $4. Of all the analysts covering AMC, one has a neutral rating and one has a negative rating. The company reported revenue of $954.4 million in last year’s first quarter. AMC has beaten revenue estimates from analysts in 11 straight quarters.
In regard to market dominance, AMC Entertainment operates 22 of the US 50 busiest movie theaters and 4 of the top 5. Later, the company announced the launch of streaming services in 2019 and listed thousands of titles across a wide spectrum of genres and categories by mid-2022. 1962 is marks a major milestone for the company because it is taken over by Stanley Durwood who embarks on a mission of rapid expansion. The company now commands more than 30% of the global market share with only 5% of the total screens and it has been a ground-breaking ice futures and options business in many respects.
Small-Cap Stocks Walking a Fine Line
At $435.3 million for the second quarter, that’s down 12% year over year and has plummeted 75% in the last two years. In short – it makes sense why AMC is still forging ahead with its share sale plans despite a relatively positive earnings beat. The units had only been publicly traded on the New York Stock Exchange for a year, and the conversion only went ahead after a settlement was reached with its shareholders. Under the agreement, AMC will provide an estimated $129 million of stock to common shareholders to nix any legal claims about the stock conversion plan in the bud.
Unlock stock picks and a broker-level newsfeed that powers Wall Street.
AMC shares closed at a record low on Wednesday, plunging 37% to hit a price of $8.62. That’s on top of a 35% share price slide that happened after AMC converted its stock in August, taking AMC’s share price down 83.7% since the start of the year. AMC previously reached memestock status in 2021 when Reddit retail traders bought up the stock while it was heavily shorted. Since then, AMC has capitalized on the stock’s newfound notoriety by regularly issuing new shares to raise capital. That attitude helped AMC survive the pandemic, but now, investors have had enough. Discover which analysts rank highest on predicting the price target of AMC.
Amount of Analyst Coverage
The estimate of $871 million would mark the lowest quarterly revenue by AMC since the first quarter of 2022. “Beyond these blockbuster movies, there were so many appealing films – big, medium, and small – drawing great crowds to our cinemas this holiday period,” Aron said. AMC noted that its merchandise program for “Wicked” was well received with collectibles selling out about halfway through the weekend.
Research Reports: AMC
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AMC Entertainment. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability. AMC’s full-year Zacks Consensus Estimates are calling for earnings of -$0.67 per share and revenue of $4.96 billion. These results would represent year-over-year changes of +47.66% and +7.04%, respectively. The movie theater operator’s shares have seen a decrease of 7.89% over the last month, not keeping up with the Consumer Discretionary sector’s loss of 7.24% and the S&P 500’s loss of 6.3%.
Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer. Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
In the U.S., AMC shattered record after record for attendance, admissions revenue, food & beverage revenue and total revenue,” said Adam Aron, chairman and CEO of AMC. AMC Entertainment Holdings, Inc., is the world’s largest movie theater chain with over 11,000 screens. The company was founded in 1920 by the Dubinsky Family and is headquartered in Leawood, Kansas. The company has been in business for over 90 years but went public in 2013 after getting bought out by an investment group seeking to boost the company’s global presence. That investment group, Beijing-based Wanda Group, is still the company’s largest shareholder. Many will allow you to buy ‘fractional shares,’ which allows you to own portions of stock without buying an entire share.
Fueled by online forum discussion, especially on Reddit, Cohen attracted an army of believers in his strategy that sent the value of GameStop stock to as high as $81.25 after never breaking $14 a share. Sign up to receive the latest news and ratings for AMC and its competitors with MarketBeat’s FREE daily newsletter. Sign-up to receive the latest news and ratings for AMC Entertainment and its competitors with MarketBeat’s FREE daily newsletter.
In addition to entertainment, AMC Entertainment has a number of options for businesses and organizations that include big-screen supported meetings and events. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. By now you’re likely curious about how to participate in the market for AMC – be it to purchase shares, or even attempt to bet against the company. Following the offering, AMC shares fell to new lows and bankruptcy concerns climbed, but at the 2024 CinemaCon in Las Vegas last week, AMC CEO Adam Aron said a restructuring is not in the cards overbought vs oversold for AMC. The sale could represent as much as 7.7% of the 519.2 million shares outstanding. Discover which analysts rank highest on predicting the directional movement of AMC.