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AMC Entertainment Holdings, Inc to Announce Second Quarter 2023 Results and Host Earnings Webcast

what is happening with amc stock

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. AMC’s market value recently plummeted to $782 million, according to MarketSmith, before rebounding back above $890 million. At one point on Feb. 28, 2023, the stock was valued at $14.9 billion.

  1. In all of January, AMC shares rose in only four separate sessions.
  2. The beleaguered cinema chain AMC Entertainment has announced plans to sell more of its common shares.
  3. To get this ideal entry in a cup without handle, simply take the cup’s left-side high.

However, even after news of the Taylor Swift movie, AMC stock still cratered more than 71% in August. It marks the worst drop in a single month for AMC stock, deeper than even the 49.5% drubbing it took during the month ended March 2020. However, shares are still holding above the year-to-date low https://www.topforexnews.org/ of 3.59. On Tuesday, AMC finished the day up 3.2% for the week at 4.50, recouping all of the prior week’s losses and more. Unfortunately, February has yet to see the stock make a serious rebound. And after reporting fourth-quarter results, AMC is trying to stage a third weekly gain in five weeks.

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. Sign-up to receive the latest news and ratings for AMC Entertainment and its competitors with MarketBeat’s FREE daily newsletter. An archive of the webcast will be available on the Company’s website after the webcast for a limited time.

This rating analyzes 13 weeks’ worth of price-and-volume action. A grade of C+ or higher points to institutions, on net, accumulating shares. In August last year, AMC held a very respectable 96 Relative Strength Rating. This score means AMC stock had outperformed 96% of all stocks in the IBD database over the past 12 months.

Before this week’s announcement, a flurry of activity in AMC stock in recent weeks has left investors uneasy. The company is scheduled to release its next quarterly earnings announcement on Friday, May 3rd 2024. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, https://www.day-trading.info/ this document. Investors interested in automatically receiving news and information when posted to our website can also visit to sign up for email alerts. Ahead of the offering, the company showed 158.4 million shares outstanding. A new share offering can dilute the stock; according to MarketSmith, AMC now has 198.4 million shares outstanding.

AMC Entertainment MarketRank™ Stock Analysis

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 business in many respects. New Rank-Based ScoringMarketRank™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company’s weighted average against that of other companies.

what is happening with amc stock

They did the same in a band of other companies that had been heavily sold short and struggling. According to newly updated data on a MarketSmith chart, the stock now holds a revised float of 196.4 million freely traded shares. 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. 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.

What’s the latest with AMC?

It’s all fun and games, but AMC has to get serious about fixing its free cash flow or risk bankruptcy. 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. 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.

Meanwhile, mutual funds owning a piece of AMC stock have dropped from 686 at the end of 2021 to as low as 256 as of the end of the fourth quarter, according to MarketSmith. AMC’s ratings in IBD Stock Checkup are still showing extremely bearish tints. This story examines fundamental, technical and fund ownership https://www.forexbox.info/ factors to determine if the Leawood, Kan., company with 900 theaters and 10,000 screens scores a good probability of making money for stock traders. In all of January, AMC shares rose in only four separate sessions. 596 employees have rated AMC Entertainment Chief Executive Officer Adam Aron on Glassdoor.com.

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. Once shares start picking up some serious gains, watch for a new bullish chart pattern will form.

Short Interest

Shooting for a 95 or higher, particularly at the start of a new bull market, is even better. 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. 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. AMC’s latest earnings report for the second quarter was a bright spot against a dismal performance for the stock.

That is, a holder of 10 shares of AMC now owns just one share, but the share price got multiplied by 10. The action, for now, has not stopped recent bleeding in shares. The company on Aug. 18 issued a new 8-K filing to the SEC with details on the conversion of the APEs. The conversion resulted in the trading of a single class of AMC shares and the completed 1-for-10 reverse split of common shares. AMC Entertainment Holdings, Inc owns, operates, or has an interest in cinema theatres in the United States and Europe but has also expanded into digital and streaming media. In 2000, the company partnered to offer the first online ticket sales and expands it to all theaters, even Empire 25 in New York, the world’s busiest movie theater.

Riley Securities said it maintains a neutral rating on AMC stock but lowered its price target to 12 from 15, Benzinga reported. 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. A more straightforward question to answer might be, what isn’t happening?

AMC reported earnings of 1 cent per share on revenue of $1.35 billion, far surpassing analyst expectations of a loss of 4 cents per share on $1.29 billion revenue. 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.

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. After the company reported third-quarter results on Nov. 8, shares dropped more than 25% for the week in accelerating turnover.

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