In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on AMC Entertainment (NYSE: AMC), with a price target of $29. The company’s shares opened today at $21, close to its 52-week high of $21.30.
“We view this transaction not only as positive in that it immediately removes any near-term stock sale overhang around the majority shareholder in AMC, but it also does so in a way that is cash flow accretive to the company, brings a strong investor onto the board, and allows the company to pay a one-time special dividend to shareholders that equates to an incremental 7.7% yield on top of the 4.0% regular annual dividend as of Thursday’s close.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 12.7% and a 64.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, National Cinemedia, and Red Lion Hotels.
Currently, the analyst consensus on AMC Entertainment is a Strong Buy with an average price target of $23.14, implying a 10.2% upside from current levels. In a report issued on September 6, Imperial Capital also maintained a Buy rating on the stock with a $23 price target.
The company has a one-year high of $21.30 and a one-year low of $10.80. Currently, AMC Entertainment has an average volume of 1.77M.
Based on the recent corporate insider activity of 29 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.