Shares of AMC Entertainment (NYSE:AMC) were little changed in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at -$0.09, which beat analysts’ consensus estimate of -$0.25 per share.
Sales increased by 45.2% year-over-year, with revenue hitting $1.41 billion. This beat analysts’ expectations by $150 million. Notably, this was the company’s best-ever third quarter in terms of revenue and adjusted EBITDA ($194 million) in its 103-year history.
Is AMC Stock a Strong Buy?
Turning to Wall Street, analysts are bearish on AMC stock with a Strong Sell consensus rating based on three Sells, as indicated by the graphic below. Furthermore, the average AMC price target of $6.38 per share implies -36.71% downside risk.
