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AMC Entertainment (AMC) Received its Third Buy in a Row


After Wedbush and Barrington gave AMC Entertainment (NYSE: AMC) a Buy rating last month, the company received another Buy, this time from B.Riley FBR. Analyst Eric Wold reiterated a Buy rating on AMC Entertainment today and set a price target of $29. The company’s shares closed yesterday at $18.13.

Wold observed:

“After the close on Thursday (11/8), AMC Entertainment Holdings (AMC) reported 3Q18 results that exceeded our and consensus expectations for adjusted EBITDA even with the expected near-term headwinds associated with the launch of (and stronger-than-expected demand for) the Stubs A-List subscription program. With the dynamics of the Stubs A-List program dominating the conference call, we came away increasingly positive that management has a handle on controlling profitability of the plan and is not against adjusting pricing and terms to ensure it does not negatively impact results—while still providing a benefit to movie- goers.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.4% and a 48.4% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

AMC Entertainment has an analyst consensus of Moderate Buy, with a price target consensus of $24.25, a 33.8% upside from current levels. In a report issued on October 31, Wedbush also upgraded the stock to Buy with a $25 price target.

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The company has a one-year high of $20.70 and a one-year low of $10.02. Currently, AMC Entertainment has an average volume of 1.86M.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.

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AMC Entertainment Holdings, Inc. engages in the theatrical exhibition business through its subsidiaries. It operates through the United States Markets and International Markets segments. The company was founded on June 6, 2007 and is headquartered in Leawood, KS.