What's Going On With AMC Entertainment Stock Wednesday?

AMC Entertainment Holdings Inc AMC shares are seeing increased attention Wednesday morning ahead of earnings.

What To Know: AMC is set to report fourth-quarter financial results after the market close on Wednesday. The company is expected to report a loss of 70 cents per share and quarterly revenue of $1.046 billion, according to estimates from Benzinga Pro.

AMC has beat analyst estimates on both the top and bottom line over the last five consecutive quarters, per Benzinga Pro data. Despite the string of earnings surprises, AMC Entertainment shares are down more than 90% over the last year.

Last quarter, AMC said attendance was up 38.4% on a year-over-year basis, but down about 16% from 2019 levels. AMC's fourth-quarter results will include the results from Taylor Swift’s “The Eras Tour” film and Beyonce’s “Renaissance” concert film.

Wedbush analyst Alicia Reese recently said AMC could have gained market share in the fourth quarter. The analyst also noted that the inclusion of the Swift and Beyonce concert films will be a positive for the company and could have driven higher ticket prices in the quarter.

Everything You Need To Know: AMC Q4 Earnings Preview: Can Taylor Swift Success Offset ‘Black Panther,’ ‘Avatar’ And Analyst Concerns?

AMC Stock Prediction 2024

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of AMC have an average one-year price target of $9, representing an expected upside of 85.95%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on AMC, but no analysts have bullish ratings. The street high price target from B. Riley Securities is $12, while the street low from Wedbush is $6.

AMC Price Action: AMC shares were up 1.46% at $4.87 at the time of publication, according to Benzinga Pro.

Photo: Paul Sableman from Flickr.