Friday, February 23, 2024

What In The World Is Going On With AMC Entertainment Shares? – AMC Entertainment (NYSE:AMC)

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AMC Entertainment Holdings Inc AMC shares are trading lower by 7.38% to $6.08 Thursday morning. The stock is trading lower on continued downward momentum after the company on Tuesday reported fourth-quarter financial results.

So What Happened?

AMC Entertainment on Tuesday reported quarterly losses of 14 cents per share which beat the analyst consensus estimate of a loss of 21 cents.

The company also reported quarterly sales of $990.90 million which beat the analyst consensus estimate of $977.67 million by 1.4%. This sales figure is a 15.5% decrease over sales of $1.17 billion in the same period last year.

Meanwhile, Benchmark analyst Mike Hickey called the results from AMC “better than expected.”

“AMC expects the box office recovery will continue apace in FY23, as Hollywood is expected to release approximately 75% more major movie titles (as defined by a film generating $100 million) than it did in FY22,” Hickey said…Read More

According to data from Benzinga Pro, AMC has a 52-week high of $34.33 and a 52-week low of $3.77.

Posted In: Newswhy it’s moving

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