|Bid||5.76 x 800|
|Ask||5.77 x 900|
|Day's Range||5.64 - 6.15|
|52 Week Range||1.95 - 12.49|
|Beta (5Y Monthly)||0.68|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.12 (2.20%)|
|Ex-Dividend Date||Mar. 06, 2020|
|1y Target Est||N/A|
AMC Entertainment (AMC) closed the most recent trading day at $5.38, moving -1.28% from the previous trading session.
AMC Entertainment has been dealing with several issues, including the coronavirus that caused theaters to close. Does the share price represent a buy at this level?
In an announcement that didn't surprise anyone, AMC Entertainment Holdings (NYSE: AMC) -- you know it better as AMC Theatres or its Carmike Cinemas arm -- injected the always alarming "substantial doubt exists about our ability to continue as a going concern" language into Wednesday's preliminary first-quarter earnings report. Coronavirus-driven shutdowns have made an already difficult situation for the movie theater industry even worse, and it remains unclear when things might return to normal for the film business. AMC desperately needs the film business to win that war fast.
AMC Entertainment Inc. (NYSE:AMC) ("AMC" or the "Company"), the largest theatrical exhibition company in the United States, Europe, and the world, today announced that Odeon Cinemas, an AMC Company, reopened the first of AMC’s approximately 1,000 cinemas around the world, in Oslo, Norway.
AMC Theaters, reported in a financial file, that the company has “substantial doubt” it will stay in business. Yahoo Finance’s On the Move panel share the details.
Yahoo Finance’s Alexis Christoforous, Brian Sozzi, and Ines Ferre break down the market action for AMC.
(Bloomberg) -- Theater chain AMC Entertainment Holdings Inc. is seeking to tame its debt load by asking subordinated bondholders to accept a steep haircut on existing debt as it casts doubt on its ability to repay future borrowings. The company, hit hard by the coronavirus pandemic that has shuttered theaters across the country, is offering a swap that would require investors to take cuts of about 50% from full face value on existing debt, according to a regulatory filing Wednesday. The swap targets four subordinated notes, which sit below all other debt in line for repayment. The three dollar-denominated bonds are trading at deeply distressed levels in the range of 26 to 27 cents on the dollar, according to Trace data.AMC also cast doubt on its ability to continue as a going concern for a “reasonable period of time” and said it may struggle to pay its debt obligations as the Covid-19 pandemic squeezes entertainment and leisure businesses. It doesn’t expect to continue dividend payments and said it will seek federal support under the Cares Act.The firm is asking investors to take a haircut ranging from about 47 to 51 cents on the dollar, depending on the bond issue and when investors turn in their securities. Investors would receive new 12% second-lien secured notes due 2026 that could pay interest in either cash or payment-in-kind through additional debt.The early deadline, with more favorable terms for investors, is 5 p.m. in New York on June 16. The final deadline is 11:59 p.m. on June 30.AMC is the biggest movie theater chain in the U.S. and Europe with about 1,000 theaters and 11,000 screens across the globe, according to its website. It was forced to close all of its approximately 600 U.S. locations in March after public officials placed limits on public gatherings to prevent the spread of the virus.If enough bondholders turn in their notes, the exchange could potentially replace about $2.3 billion of subordinated debt with $1.2 billion of new second-lien secured debt, Bloomberg Intelligence analyst Mike Campellone wrote in a report on Wednesday.The exchange, combined with new bonds the firm sold in April, could help AMC lower is total debt burden to around $4.7 billion from $5.3 billion at the end of March.“Credit concerns for AMC will persist in our view, even if the company is successful in executing balance-sheet maneuvers that could reduce total debt obligations by $597 million,” Campellone wrote, highlighting increasing leverage, a measure of earnings to debt, and liquidity concerns.The $500 million 10.5% first-lien secured notes AMC issued in April at a discount of 98 cents on the dollar last traded at 88.25 cents on the dollar for a yield of about 14%, according to Trace data.Lenders to AMC tapped lawyers at Gibson Dunn & Crutcher to help advise them as the pandemic began to hit business, Bloomberg previously reported. The company said Wednesday that it has suspended operations at all of its theaters through June, leaving it with little-to-no revenue stream.The movie theater giant said it will take an impairment charge of $1.8 billion to $2.1 billion for the three months through March 31 and warned it would miss expectations for revenue and net loss.Read More: AMC sees up to $2.1 billion charge With theaters still closedThe company’s “elevated debt load and unavoidable fixed costs mean the company’s near-term financial flexibility will be severely challenged, as the coronavirus’ spread raises the possibility of a shutdown of all domestic theaters, decimating ticket revenue,” Amine Bensaid of Bloomberg Intelligence wrote in a note Wednesday.(Updates with bond pricing and background context throughout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Movie theaters worldwide have been shut since mid-March to help contain the spread of the novel coronavirus and many potential box-office draws such as "Top Gun: Maverick", the new James Bond film "No Time To Die" and Walt Disney's "Mulan" have been pushed later into the year. "We cannot predict when or if our business will return to normal levels," the world's largest movie theater operator said in a regulatory filing https://bit.ly/303x7cX. AMC said it had begun a ramp-up in cash spending as it aims for a summer reopen.
AMC Entertainment (AMC) closed at $5.13 in the latest trading session, marking a +1.18% move from the prior day.
What happened Cinemark (NYSE: CNK) tumbled almost 11% today on no company-specific news, but fellow theater operator AMC Entertainment (NYSE: AMC) was down 10% as well. So what Movie theater chains had gotten a boost the other day thanks to prospects improving for reopening the economy, though at least one analyst worried that Cinemark would be hurt by its exposure to the Brazilian market.
The future for AMC Entertainment (NYSE: AMC) was looking as dark as the theaters it was forced to close due to the COVID-19 pandemic, but an analyst says the lights may go up again after all. Almost two months after MKM Partners analyst Eric Handler said bankruptcy "appeared likely" for AMC, the Wall Street pro now says the threat has "lessened considerably," and he hiked his fair value estimate of the theater operator's stock from $1 per share to $5 per share. AMC had slashed its dividend, its executives agreed to take deep pay cuts, and it closed all its theaters in a bid to conserve cash.
With the original fan favorite TV series The Walking Dead wrapping up its final season, AMC Entertainment (NYSE: AMC) now has a fairly likely timetable for the franchise to rise from the grave in the spinoff series The Walking Dead: World Beyond. Talking with Hollywood Reporter, AMC's Chief Operating Officer Ed Carroll revealed a probable air date in the fourth quarter of 2020. Both the last episode of The Walking Dead and the start of World Beyond were filmed prior to the coronavirus-related shutdown.
A survey shows 70% of people prefer new movie releases as digital in-home rentals, and it's not the only problem for theater operators like AMC.
The rumor makes sense: E-commerce giant Amazon (NASDAQ: AMZN) has shown interest in the movie industry in the past, and as long as the audience for Amazon Studios' productions is limited to Prime members, the company is leaving money on the table. If it acquired movie-theater giant AMC Entertainment (NYSE: AMC), Amazon would shift into the mainstream of the film industry, and its ability to screen its releases would allow them to qualify for Hollywood's awards. It would also offer Amazon a way to expand its subscription ecosystem.
As social distancing rules continue due to the coronavirus pandemic, movie theaters are gaining attention. Yahoo Finance’s Alexis Christoforous and Brian Sozzi speak to Beth Wilson, owner of the Warwick Drive-In, as she prepares to reopen on Friday.
Investors need to pay close attention to AMC Entertainment (AMC) stock based on the movements in the options market lately.
Shares of movie theater operator AMC Entertainment (NYSE: AMC) tumbled more than 10% today, after Federal Reserve Chairman Jerome Powell weighed in on the prospects for an economic recovery and promptly scared the heck out of everyone. Powell's comments today, however, threw all the wet towels on that idea, saying it was "highly uncertain" the economy would quickly bounce back. AMC Entertainment has been on tenterhooks since the pandemic began and its movie theaters were closed.
AMC Entertainment (AMC) first-quarter top line is likely to have been impacted by dismal performance at the admissions, food and beverage, and other theatre segments.
Shares of AMC Entertainment (NYSE: AMC) soared 30% on Monday after a Daily Mail report indicated that Amazon (NASDAQ: AMZN) was potentially interested in buying the world's largest movie theater chain. Amazon was reportedly in talks to acquire Landmark Theatres in 2018, so it's not outlandish to think of the leading e-tailer making a play for a multiplex operator. After the $13.7 billion deal for Whole Foods Market in 2017, it may seem as if anything is possible for Amazon.