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

AMC Entertainment (NYSE:AMC) updated its first quarter 2024 earnings guidance on Friday. 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.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMC. Wedbush cut their target price on shares of AMC Entertainment from $6.00 to $4.00 and set a neutral rating for the company in a research note on Thursday, April 18th. B. Riley cut their target price on shares of AMC Entertainment from $12.00 to $8.00 and set a neutral rating for the company in a research note on Thursday, February 29th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Reduce and a consensus price target of $5.95.

AMC Entertainment Stock Performance

Shares of NYSE:AMC opened at $3.41 on Friday. The company 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 firm has a 50 day simple moving average of $3.83 and a 200 day simple moving average of $5.69.

AMC Entertainment (NYSE:AMC) last issued 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities analysts predict that AMC Entertainment will post -1.61 earnings per share for the current year.

About AMC Entertainment

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.