AMC Entertainment (AMC) closed the most recent trading day at $2.88, moving +2.13% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.48%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.94%.
Shares of the movie theater operator have depreciated by 15.32% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 6.84%, and the S&P 500's gain of 5.13%.
Analysts and investors alike will be keeping a close eye on the performance of AMC Entertainment in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.07, showcasing a 83.72% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.31 billion, indicating a 27.21% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.6 per share and revenue of $4.95 billion, indicating changes of +53.13% and +6.76%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for AMC Entertainment. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, AMC Entertainment holds a Zacks Rank of #3 (Hold).
The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 89, positioning it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AMC in the coming trading sessions, be sure to utilize Zacks.com.
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AMC Entertainment Holdings, Inc. (AMC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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