AMC Stock Soars on Strong Earnings, Positive Analyst Outlook
NYSE Nasdaq Real Time Price
Data as of Apr 26 2024
AMC stock soared in after-hours trading on Thursday after the company reported strong earnings and analysts issued positive outlooks on the stock. The stock rose more than 10% in after-hours trading after closing at $10.20.
The company reported earnings per share of $0.20, beating analysts' estimates of $0.18. Revenue also beat estimates, coming in at $1.2 billion compared to estimates of $1.1 billion.
Analysts were also positive on the stock, with several raising their price targets. UBS raised its price target from $12 to $14, while Jefferies raised its target from $11 to $13. Both analysts cited the company's strong earnings and positive outlook for the future.
The strong earnings and positive analyst outlook are a sign of confidence in AMC's future. The company has been struggling in recent years, but it appears to be turning a corner. The company's new CEO, Adam Aron, has been credited with turning the company around.
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