What's Going On With AMC Entertainment Stock Today?

AMC Entertainment Holdings Inc AMC shares are trading higher. On Thursday, the company introduced a new rewards tier to its AMC Stubs program.

What Happened: AMC added a new “achievable” tier to its rewards program AMC Stubs. Members can now reach AMC Stubs Premiere GO! status by seeing at least eight movies at AMC or earning at least 5,000 AMC Stubs points in a year.

Once a member reaches the new rewards tier, they will remain eligible for tier benefits for the remainder of that year, as well as for the following year.

AMC Stubs Premiere GO! member rewards include free size upgrades on popcorn and fountain drinks and priority lane access. Members will also receive a free large popcorn and fountain drink birthday gift. The new tier level also frees members from online ticketing fees for ticket purchases of four or greater and offers two times the reward points, which can be redeemed for tickets and concessions.

“The introduction of AMC Stubs Premiere GO! gives our Insider members an exciting and achievable pathway to unlock enhanced rewards simply by enjoying the movies they love,” said Ellen Copaken, senior vice president of Marketing at AMC.

“This new tier is our way of saying thank you to our fans for their passion and dedication while continuing to deliver the unparalleled value and convenience they expect from AMC.”

The new rewards tier has been added to the lineup at no cost. However, if moviegoers want access to the benefits without qualifying through movies or points, they can sign up for AMC Stubs Premiere for $17.99 per year. AMC said Premiere members receive all the benefits of AMC Stubs Premiere GO! immediately upon signing up.

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Will AMC Stock Go Up?

When trying to assess whether or not AMC will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $5 on AMC. The Street-high target is currently at $6 and the Street-low target is $4. Of all the analysts covering AMC, one has a neutral rating and one has a negative rating.

In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering AMC have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. AMC is down 12.69% year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about AMC, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

AMC Price Action: AMC shares were up 2.85% at $3.61 at the time of publication Thursday, according to Benzinga Pro.

Photo: Paul Sableman from Flickr.