An analyst now increases AMC EPS estimates for Q3 2024 after the company announced a record breaking Q2 in August.

CEO Adam Aron said AMC Entertainment Holdings Inc. had the best Q2 June in its 104-year-old history.

The company was also able to secure more than $770 million in cash equivalents by the end of the second quarter.

The “box office is making a come back”, said Adam Aron during the Q2 earnings call.

AMC Entertainment Holdings, Inc. (NYSE:AMC) saw its Q3 2024 earnings per share (EPS) estimates raised by analysts at B. Riley in a research note released to investors on October 3.

Analyst E. Wold now anticipates that AMC will report earnings of ($0.01) per share for the quarter, an improvement from the previous estimate of ($0.11), per Market Beat.

The consensus estimate for AMC’s full-year earnings currently stands at ($1.36) per share.

B. Riley has also projected AMC’s Q4 2024 earnings at ($0.08) EPS, with FY2024 earnings expected at ($1.30) EPS.

For Q1 2025, they estimate earnings of ($0.55) EPS, followed by ($0.08) EPS for Q2 2025, ($0.07) EPS for Q3 2025, and FY2025 earnings at ($0.44) EPS.

AMC last reported its quarterly earnings on August 2, where it posted an EPS of ($0.43), matching consensus expectations.

The company generated $1.04 billion in revenue for the quarter, slightly surpassing analyst projections of $1.03 billion, although this represented a 23.1% decline compared to the same quarter last year.

AMC has also received various other analyst reports.

Morgan Stanley reduced its target price for AMC shares from $11.00 to $10.00, assigning an “underweight” rating in a report on August 12.

Wedbush maintained a “neutral” rating with a target price of $4.00 on August 5, while Macquarie increased its price target from $3.50 to $4.00, giving the stock an “underperform” rating on July 9.

Benchmark reiterated a “hold” rating on August 5.

Currently, four analysts have rated AMC stock as a sell, while three have given it a hold rating.

According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $5.70.

However, this is just ‘industry jargon’ as the stock is held primarily by retail investors, who continue to remain bullish on the stock.

For more AMC Stock News and updates like this, join the newsletter or opt-in for push notifications.

Also Read: 6 Companies Have Now Increased Their Stake in AMC Entertainment

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