AMC Stock Price: AMC Entertainment set to rebound on upbeat Q1 earnings
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UNLOCK OFFER- NYSE: AMC rebounded 2.56% in after-hours Monday on Q1 earnings beat.
- AMC’s stock has a consensus sell rating ahead of its earnings call.
- Doctor Strange 2 is already posting massive numbers at the box office.
Update: AMC Entertainment (NYSE: AMC) saw fresh signs of life in Monday’s post-market trading after the company reported its Q1 earnings report, which outpaced market expectations. Shares of the movie theatre chain rose more than 3.56% after-hours Monday after it reported a net loss of $337.4 million when compared with a loss of $567.2 million seen a year ago. Revenue rose to $785.7 million from $148.3 million last year and topped the $743 million analysts had expected, per CNBC News. The post-market rebound helped the AMC stock price to reverse its 9.01% loss in Monday’s trading, pointing to a positive open on Tuesday. AMC shares hit the lowest level since May 2021 amid pre-earnings results anxiety.
NYSE:AMC saw a major decline during Friday trading in the last session before it reports its Q1 earnings on Monday. Shares of AMC dropped by 6.33% and closed the trading week at $13.76. The closing price indicated the first time AMC had closed a session below $14.00 since May of 2021. All three major averages continued to fall lower on Friday although the damage was nowhere near as severe as the sell off during Thursday’s session. The Dow Jones closed out its sixth straight losing week, while the NASDAQ fell for its fifth consecutive week for the first time since 2012.
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According to the website Marketbeat, AMC has a consensus sell rating from analysts with a median 12-month price target of $9.83. This means that even though the stock has fallen by 48% so far this year, Wall Street analysts believe it still has much further to fall. It’s been a difficult earnings season for companies so far. With rising interest rates companies have been punished even if their earnings come in better than expected. Early consensus estimates have AMC’s Q1 revenues at $736 million which is a nice year over year bump, but a sequential decline from last quarter.
AMC stock forecast
So far Doctor Strange 2 has been pulling in some big revenue numbers at both domestic and overseas theaters. The early release on Thursday already brought in $36 million, while international box offices have brought in more than $86 million. The latest movie from the Marvel Comic Universe is on track to earn more than $175 million this weekend.
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- NYSE: AMC rebounded 2.56% in after-hours Monday on Q1 earnings beat.
- AMC’s stock has a consensus sell rating ahead of its earnings call.
- Doctor Strange 2 is already posting massive numbers at the box office.
Update: AMC Entertainment (NYSE: AMC) saw fresh signs of life in Monday’s post-market trading after the company reported its Q1 earnings report, which outpaced market expectations. Shares of the movie theatre chain rose more than 3.56% after-hours Monday after it reported a net loss of $337.4 million when compared with a loss of $567.2 million seen a year ago. Revenue rose to $785.7 million from $148.3 million last year and topped the $743 million analysts had expected, per CNBC News. The post-market rebound helped the AMC stock price to reverse its 9.01% loss in Monday’s trading, pointing to a positive open on Tuesday. AMC shares hit the lowest level since May 2021 amid pre-earnings results anxiety.
NYSE:AMC saw a major decline during Friday trading in the last session before it reports its Q1 earnings on Monday. Shares of AMC dropped by 6.33% and closed the trading week at $13.76. The closing price indicated the first time AMC had closed a session below $14.00 since May of 2021. All three major averages continued to fall lower on Friday although the damage was nowhere near as severe as the sell off during Thursday’s session. The Dow Jones closed out its sixth straight losing week, while the NASDAQ fell for its fifth consecutive week for the first time since 2012.
Stay up to speed with hot stocks' news!
According to the website Marketbeat, AMC has a consensus sell rating from analysts with a median 12-month price target of $9.83. This means that even though the stock has fallen by 48% so far this year, Wall Street analysts believe it still has much further to fall. It’s been a difficult earnings season for companies so far. With rising interest rates companies have been punished even if their earnings come in better than expected. Early consensus estimates have AMC’s Q1 revenues at $736 million which is a nice year over year bump, but a sequential decline from last quarter.
AMC stock forecast
So far Doctor Strange 2 has been pulling in some big revenue numbers at both domestic and overseas theaters. The early release on Thursday already brought in $36 million, while international box offices have brought in more than $86 million. The latest movie from the Marvel Comic Universe is on track to earn more than $175 million this weekend.
Like this article? Help us with some feedback by answering this survey:
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