Here’s Why AMC Entertainment (AMC) Gained But Lagged the Market Today

AMC Entertainment (AMC) ended the recent trading session at $5.18, demonstrating a +0.78% swing from the preceding day’s closing price. The stock’s performance was behind the S&P 500’s daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 1.64%, while the tech-heavy Nasdaq appreciated by 1.03%.

The the stock of movie theater operator has risen by 7.53% in the past month, leading the Consumer Discretionary sector’s loss of 3.51% and the S&P 500’s loss of 1.16%.

Analysts and investors alike will be keeping a close eye on the performance of AMC Entertainment in its upcoming earnings disclosure. The company’s earnings report is set to go public on August 2, 2024.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.76 per share and revenue of $4.57 billion, which would represent changes of +67.93% and -5.02%, respectively, from the prior year.

It’s also important for investors to be aware of any recent modifications to analyst estimates for AMC Entertainment. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there’s been a 9.52% rise in the Zacks Consensus EPS estimate. Currently, AMC Entertainment is carrying a Zacks Rank of #2 (Buy).

The Leisure and Recreation Services industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 199, finds itself in the bottom 22% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Story continues

AMC Entertainment Holdings, Inc. (AMC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research