AMC Entertainment (AMC) Receives a Buy from B.Riley FBR

By Ryan Adsit

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on AMC Entertainment (AMCResearch Report), with a price target of $19. The company’s shares closed yesterday at $11.83.

Wold observed:

“AMC Entertainment Holdings (AMC) is scheduled to report 2Q19 results before the open on a call at 8:30am ET. Ahead of the print, we are lowering our 2Q19 estimates (with full-year 2019 and 2020 flow-through) to put our model in line with final quarterly industry box office that came in below our original expectations. With our belief that confusion and misinterpretation of the impact of ASC 842 implementation has been lessening, we believe the focus going into and coming out of the call will be the combination of a stronger box office outlook for 2H19 and into 2020 along with strengthening trends for the company’s Stubs A-List subscription program.”

According to TipRanks.com, Wold has 0 stars on 0-5 star ranking scale with an average return of -7.0% and a 34.3% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

Currently, the analyst consensus on AMC Entertainment is a Strong Buy with an average price target of $16.07, implying a 35.8% upside from current levels. In a report issued on July 19, Credit Suisse also initiated coverage with a Buy rating on the stock with a $18 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $20.70 and a one-year low of $8.73. Currently, AMC Entertainment has an average volume of 2.46M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.