News

AMC Entertainment Holdings Inc. Quarterly Results Awaited

1 Mins read

Shares of AMC Entertainment Holdings Inc. have surged 5.9% on Tuesday, marking a three-day winning streak and the largest daily percentage increase since February 14th, with a rise of 6.9%.

Fourth Quarter Results Awaited

The movie-theater chain and original meme stock is set to report its fourth-quarter results after the market closes on Wednesday. According to analysts surveyed by FactSet, AMC is expected to report a fourth-quarter loss of 70 cents per share and revenue of $1.058 billion.

Positive Outlook for AMC

In a recent note, Wedbush analysts expressed optimism about AMC’s performance in the near future, anticipating share gains following the fourth-quarter results. However, they cautioned that 2024 could present some challenges for the company.

Growth Potential

Analyst Alicia Reese highlighted that AMC expanded its market share in 2023 and is well-positioned to build upon its current 22% market share. With a wide network of premium large-format screens and concert movie distribution, AMC has opportunities to drive revenue growth.

Success Factors

One of the key factors driving AMC’s share gains was the success of concert films like “Taylor Swift: The Eras Tour” and “Renaissance: A Film by Beyoncé.” The distribution of these films contributed to AMC’s market share growth in Q4 of 2023.

Market Performance

Despite recent struggles, AMC shares have fallen 29.6% in the last three months, while the S&P 500 index has seen a gain of 11.3%.

Related posts
News

$TRUMP and other meme coins won't be protected by SEC, Commissioner Hester Peirce says

3 Mins read
LAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on…
News

Man charged in New York with 3-week kidnapping to try to steal Bitcoin

1 Mins read
NEW YORK (Reuters) -A grand jury has indicted a 37-year-old cryptocurrency investor accused of kidnapping a business partner inManhattan’s upscale Soho neighborhood…
News

Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026

2 Mins read
Investors are advised to consider risk-reward balance and portfolio diversification.Trending NowBest Forex Trading Robots To Invest In 2022 Daan Struyven, co-head of…

Leave a Reply

Your email address will not be published. Required fields are marked *

35 + = 44