Citigroup Lowers Price Objective for AMC Entertainment, Signaling Potential Challenges Ahead
In a recent report released on September 26, 2023, Citigroup has reduced its price objective for AMC Entertainment from $15.50 to $4.75, according to a statement from FlyOnTheWall. This adjustment suggests a potential downside of 41.68% from the company’s previous close.
Trading on Tuesday began for NYSE: AMC at $8.15. The stock currently holds a market capitalization of $422.89 million, with a P/E ratio of -1.27 and a beta of 1.89. Reflecting the stock’s performance over the previous fifty days, its simple moving average stands at $27.97, while the 200-day simple moving average registers at $39.62. Over the last twelve months, AMC Entertainment has experienced fluctuating values within a range of $7.05 as its lowest point and $91.50 as its highest point.
AMC Entertainment Holdings, Inc is primarily involved in the theatrical exhibition business through its subsidiary companies. Its operations encompass ownership, operation, or partial interest in theaters across the United States and Europe alike. The company has an extensive history, dating back to its establishment in 1920 and is headquartered in Leawood, Kansas.
While these recent developments may raise concerns regarding AMC Entertainment’s performance outlook for investors and industry analysts alike, it is crucial to conduct further analysis before making any investment decisions regarding this stock’s future prospects. $AMC Entertainment (AMC.US)$
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