AMC Entertainment posted a third-quarter net loss of 9 cents per share amid a healthy 45% rise in sales to $1.41 billion. According to Yahoo Finance, analysts on consensus expected a net loss of 27 cents and $1.23 billion in sales. Going beyond the fundamentals, growth investors benefit in a big way if they understand how well a stock performs vs. a key benchmark. As for AMC stock, IBD’s relative strength line, which graphs a stock or ETF’s day-to-day performance vs. the S&P 500, has plunged since Aug. 14.

Top institutional investors include Vanguard Group Inc. (10.18%), Vanguard Group Inc. (7.67%), EMG Holdings L.P. (0.00%), Citadel Advisors LLC (0.00%), Norges Bank (1.04%) and HAP Trading LLC (0.00%). 596 employees have rated AMC Entertainment Chief Executive Officer Adam Aron on Adam Aron has an approval rating of 63% among the company’s employees.

  1. A more straightforward question to answer might be, what isn’t happening?
  2. The company on Aug. 18 issued a new 8-K filing to the SEC with details on the conversion of the APEs.
  3. The RS Rating runs from 1 to 99; for investors selecting top growth stocks, the higher the RS Rating, the better the stock in general.
  4. In the week ended June 4, AMC stock almost finished up 100% or more for a second straight week.
  5. Wednesday’s drop was the biggest one-day sell-off AMC stock has seen since February 2021.

The stock-conversion plan is part of the movie-theater chain and meme-stock darling’s ongoing battle to eliminate debt. Set against this backdrop, Wedbush raised its AMC (AMC) price target to $19 from $2 Thursday. 5 Wall Street analysts have how to withdraw on coinbase issued “buy,” “hold,” and “sell” ratings for AMC Entertainment in the last year. There are currently 3 sell ratings and 2 hold ratings for the stock. The consensus among Wall Street analysts is that investors should “strong sell” AMC shares.

This means AMC has sharply underperformed the S&P 500, especially since mid-August. “We think AMC is well-positioned against an improving industry backdrop,” said Reese, in the note, adding that Wedbush expects North American box office to end up 20% higher than 2022. AMC Entertainment’s stock is owned by a number of retail and institutional investors.

Undervalued, This Dividend Stock Is a Buy After Fair Value Boost

Check the daily price-weighted performance of all IBD industry groups, plus rankings based on six-month performance, at IBD Data Tables. According to newly updated data on a MarketSurge chart, the stock now holds a revised float of 196.4 million freely traded shares. AMC shares plunged another 36% in September last year to 7.99. The 33% gain in October was pleasant to see, but AMC stock gave back all of that rebound in November. Wall Street currently sees AMC posting a net loss of $1.55 a share this year (down from $3.02) and a net loss of $1.65 in 2024, down mildly from an earlier estimate of -$1.82.

Shares slid 37% and 8% in November and December, respectively, vs. gains of 9.1% and 4.1% by SPDR S&P 500 ETF Trust (SPY). AMC’s market value recently plummeted to $782 million, according to MarketSmith, before rebounding back above $910 million. At one point on Feb. 28, 2023, the stock was valued at $14.9 billion. Yet in all of January, AMC shares rose in only four separate sessions. On Jan. 31, after the Federal Reserve’s first meeting of 2024 on interest rates concluded, the stock finished 1.5% lower to a record low of 4.05 and dropped nearly 34% for the month. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.

Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Meanwhile, mutual funds owning a piece of AMC stock have dropped from 686 at the end of 2021 to as low as 253 as of the end of the fourth quarter, according to MarketSmith. AMC’s ratings in IBD Stock Checkup are still showing extremely bearish tints.

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. Today, the chain is home to all of the top movies and offers attractions like IMA, Dolby Surround Sound, PRIME, 3-D features, Plush Power Recliners, and Dreamscape as well as full restaurants in many locations. In addition to entertainment, AMC Entertainment has a number of options for businesses and organizations that include big-screen supported meetings and events. Strong future profits could lead to increasing accumulation by large funds and other institutional investors.

AMC Stock In The New Year: Is It A Buy Now? Or A Sell?

“Knowing that we can do our best for AMC to smartly raise capital is a terrific relief,” Aron said. The CEO has repeatedly warned that AMC faces liquidity challenges. Of eight analysts surveyed by FactSet, four have a buy rating and four have a sell rating for AMC. Wednesday’s drop was the biggest one-day sell-off AMC stock has seen since February 2021. The previous record-low stock price close was $10.73, seen in January 2021, with Wednesday’s close considerably under that. Sign-up to receive the latest news and ratings for AMC Entertainment and its competitors with MarketBeat’s FREE daily newsletter.

AMC Stock News Headlines

“AMC may use the opportunity to repay some or all of its debt balance while AMC shares are still trading at a premium.” 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. Last month, AMC’s CEO Adam Aron released a statement on X stating the goal for the company was “Do not let AMC fall into financial ruin, ensure that AMC survives, put AMC on a path to eventually thrive”.

In 2022, AMC posted a full-year adjusted net loss of $6.95 a share vs. a net loss of $11 in 2021, according to MarketSmith data. In Q3 of last year, the company reported net income of $12.3 million vs. a net loss of $227 million a year earlier. AMC also said it achieved diluted earnings of 8 cents a share vs. a net loss of $2.20. Adjusted EBITDA jumped to $193.7 million from a negative $12.9 million a year ago. On the positive side, AMC said adjusted EBITDA (earnings before interest, tax, depreciation and amortization) soared 193% to $42.5 million. It held $884 million in cash and cash equivalents at the end of the quarter.

In the week ended June 4, AMC stock almost finished up 100% or more for a second straight week. 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. AMC shares closed at a record low on Wednesday, plunging 37% to hit a price of $8.62.

Still, with gains of as much as 501% in just two weeks, it made sense to lock in at least partial profits. The Accumulation/Distribution Rating has dropped to a neutral C grade on a scale of A to E. This rating analyzes 13 weeks’ worth of price-and-volume action.

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