AMC Entertainment Holdings, Inc. (NYSE:AMC) Bonds Drop 1.9% During Trading Analyst

An issue of AMC Entertainment Holdings, Inc. (NYSE:AMC) bonds fell 1.9% as a percentage of their face value during trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $30.00 to $22.00. The high-yield issue of debt has a 5.875% coupon and will mature on February 15, 2022. The bonds in the issue are now trading at $102.63 and were trading at $104.25 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

A number of other equities analysts have also recently weighed in on AMC. Zacks Investment Research cut shares of AMC Entertainment Holdings from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 1st. Loop Capital reissued a “buy” rating and issued a $39.00 price objective on shares of AMC Entertainment Holdings in a research report on Monday, July 10th. Barclays PLC upped their price objective on shares of AMC Entertainment Holdings from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. FBR & Co reissued a “buy” rating and issued a $37.00 price objective on shares of AMC Entertainment Holdings in a research report on Friday, April 21st. Finally, TheStreet cut shares of AMC Entertainment Holdings from a “b-” rating to a “c+” rating in a research report on Friday, May 19th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.96.

In related news, CEO Adam M. Aron acquired 10,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average price of $24.72 per share, for a total transaction of $247,200.00. Following the completion of the purchase, the chief executive officer now directly owns 90,426 shares of the company’s stock, valued at $2,235,330.72. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin M. Connor acquired 4,000 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were bought at an average price of $23.52 per share, for a total transaction of $94,080.00. Following the purchase, the senior vice president now directly owns 40,705 shares of the company’s stock, valued at $957,381.60. The disclosure for this purchase can be found here. 0.80% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMC. Bank of New York Mellon Corp raised its position in AMC Entertainment Holdings by 35.7% in the first quarter. Bank of New York Mellon Corp now owns 440,593 shares of the company’s stock valued at $13,856,000 after buying an additional 115,861 shares during the period. Falcon Point Capital LLC acquired a new position in AMC Entertainment Holdings during the first quarter valued at about $10,354,000. American Century Companies Inc. raised its position in AMC Entertainment Holdings by 15.5% in the first quarter. American Century Companies Inc. now owns 202,246 shares of the company’s stock valued at $6,361,000 after buying an additional 27,140 shares during the period. Stoneridge Investment Partners LLC acquired a new position in AMC Entertainment Holdings during the first quarter valued at about $1,698,000. Finally, Great West Life Assurance Co. Can raised its position in AMC Entertainment Holdings by 241.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,558 shares of the company’s stock valued at $174,000 after buying an additional 3,932 shares during the period. Hedge funds and other institutional investors own 42.02% of the company’s stock.

The firm’s market cap is $1.84 billion. The stock has a 50-day moving average of $20.21 and a 200-day moving average of $26.86.

AMC Entertainment Holdings (NYSE:AMC) last released its quarterly earnings results on Friday, August 4th. The company reported ($1.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $1.41. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. AMC Entertainment Holdings had a negative net margin of 2.49% and a negative return on equity of 3.44%. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Equities research analysts forecast that AMC Entertainment Holdings, Inc. will post ($1.04) EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Monday, September 11th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.69%. The ex-dividend date of this dividend is Friday, September 8th. AMC Entertainment Holdings’s dividend payout ratio (DPR) is presently -125.00%.

AMC Entertainment Holdings declared that its board has authorized a stock buyback plan on Thursday, August 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 58% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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AMC Entertainment Holdings Company Profile

AMC Entertainment Holdings, Inc is a holding company. The Company, through its subsidiaries, including AMC Entertainment Inc (AMCE), American Multi-Cinema, Inc (OpCo) and its subsidiaries, is engaged in the theatrical exhibition business. It operates through theatrical exhibition operations segment. It licenses first-run motion pictures from distributors owned by film production companies and from independent distributors.

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