AMC Entertainment's Prospects Bright Despite Slow Film Releases, Says Analyst - AMC Entertainment (NYSE:AMC)

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  • Barrington Research analyst James C. Goss has reiterated the Market Perform rating on the shares of AMC Entertainment Holdings Inc AMC.
  • AMC reported strong Q3 earnings, above Street estimates. The softer film slate in the second half of Q3 offset a strong start, which featured carryover product from Q2, such as Top Gun: Maverick, as well as the July release of Minions: The Rise of Gru, and Thor: Love and Thunder.
  • Also ReadAMC Q3 Earnings Highlights: Revenue And EPS Beat, Company Sells 14.9 Million APE Shares, Q4 Blockbuster Slate
  • There is a robust slate of blockbusters, though the overall pace of releases appears to still be building back to a more normalized level, said the analyst.
  • Goss said AMC is the largest operator of Imax Corp IMAX IMAX and Dolby Cinema screens.
  • The company also has its own PLF format, AMC Prime. With a blockbuster-heavy slate, PLF formats have done well in attracting consumers for a premium experience at a premium price.
  • He cited AMC has made efforts to grow the theatrical business and extend beyond traditional operations, including home delivery of concessions and retail sales of AMC-branded microwave popcorn. A branded credit card is targeted for the Q1 launch.
  • AMC is also seeking to leverage its circuit footprint with its recent Zoom Video Communications, Inc.  ZM Zoom partnership to expand its meetings business with a function it feels would be of value to decentralized workforces.
  • RelatedHow To Trade AMC Entertainment Stock Before And After Q3 Earnings
  • Price Action: AMC shares are trading higher by 12.89% at $6.92 on the last check Friday.
  • Photo Via Company

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Image and article originally from www.benzinga.com. Read the original article here.