AMC Entertainment Holdings, Inc. (NYSE:AMC) Plans $0.01 Quarterly Dividend

AMC Entertainment Holdings, Inc. (NYSE:AMC – Get Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Monday, August 15th will be paid a dividend of 0.01 per share on Friday, August 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date is Friday, August 12th.

AMC Entertainment Stock Up 18.9%

Shares of AMC opened at $22.18 on Friday. AMC Entertainment has a fifty-two week low of $9.70 and a fifty-two week high of $52.79. The firm’s 50 day moving average price is $14.26 and its 200 day moving average price is $15.90. The company has a market cap of $11.46 billion, a P/E ratio of -13.95 and a beta of 1.64.

AMC Entertainment (NYSE:AMC – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the firm posted ($0.71) earnings per share. The firm’s revenue for the quarter was up 162.3% compared to the same quarter last year. Research analysts forecast that AMC Entertainment will post -1.13 per share for the current year.

Hedge Funds Weigh In On AMC Entertainment

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in shares of AMC Entertainment by 417.6% in the 1st quarter. Covestor Ltd now owns 1,061 shares of the company’s stock worth $26,000 after acquiring an additional 856 during the period. Quantamental Technologies LLC acquired a new stake in shares of AMC Entertainment in the 1st quarter worth approximately $212,000. XTX Topco Ltd acquired a new stake in shares of AMC Entertainment in the 1st quarter worth approximately $232,000. Prudential PLC acquired a new stake in shares of AMC Entertainment in the 1st quarter worth approximately $275,000. Finally, Cibc World Market Inc. acquired a new stake in shares of AMC Entertainment in the 1st quarter worth approximately $321,000. Institutional investors and hedge funds own 34.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMC. The Goldman Sachs Group dropped their objective price on shares of AMC Entertainment to $34.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a research report on Wednesday, July 20th. Wedbush reaffirmed an “underperform” rating and issued a $4.00 target price on shares of AMC Entertainment in a research report on Tuesday. B. Riley dropped their target price on shares of AMC Entertainment from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 21st. Finally, Citigroup lowered their objective price on shares of AMC Entertainment from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, July 7th. Four equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $13.50.

About AMC Entertainment

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AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theaters in the United States and Europe. As of March 1, 2022, it operated approximately 950 theaters and 10,600 screens. The company was founded in 1920 and is headquartered in Leawood, Kansas.

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Dividend History for AMC Entertainment (NYSE:AMC)

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