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AMC Entertainment (AMC) Surges 11.6%: Is This an Indication of Further Gains?
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AMC Entertainment (AMC - Free Report) shares soared 11.6% in the last trading session to close at $9.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% gain over the past four weeks.
Shares of AMC Entertainment surged following the announcement of robust advance ticket sales for the TAYLOR SWIFT | THE ERAS TOUR concert film. Positive investor sentiments were witnessed because of pent-up demand and solid interest from additional cinema operators in playing the concert film. The company confirmed over 8,500 theatres across 100 countries worldwide for the concert film.
This movie theater operator is expected to post quarterly loss of $0.48 per share in its upcoming report, which represents a year-over-year change of +76%. Revenues are expected to be $1.15 billion, up 19.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AMC Entertainment, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMC going forward to see if this recent jump can turn into more strength down the road.
AMC Entertainment belongs to the Zacks Leisure and Recreation Services industry. Another stock from the same industry, Norwegian Cruise Line (NCLH - Free Report) , closed the last trading session 1.3% higher at $16.65. Over the past month, NCLH has returned -0.3%.
Norwegian Cruise Line's consensus EPS estimate for the upcoming report has changed -71.4% over the past month to $0.70. Compared to the company's year-ago EPS, this represents a change of +209.4%. Norwegian Cruise Line currently boasts a Zacks Rank of #3 (Hold).
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AMC Entertainment (AMC) Surges 11.6%: Is This an Indication of Further Gains?
AMC Entertainment (AMC - Free Report) shares soared 11.6% in the last trading session to close at $9.26. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2.2% gain over the past four weeks.
Shares of AMC Entertainment surged following the announcement of robust advance ticket sales for the TAYLOR SWIFT | THE ERAS TOUR concert film. Positive investor sentiments were witnessed because of pent-up demand and solid interest from additional cinema operators in playing the concert film. The company confirmed over 8,500 theatres across 100 countries worldwide for the concert film.
This movie theater operator is expected to post quarterly loss of $0.48 per share in its upcoming report, which represents a year-over-year change of +76%. Revenues are expected to be $1.15 billion, up 19.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For AMC Entertainment, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AMC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
AMC Entertainment belongs to the Zacks Leisure and Recreation Services industry. Another stock from the same industry, Norwegian Cruise Line (NCLH - Free Report) , closed the last trading session 1.3% higher at $16.65. Over the past month, NCLH has returned -0.3%.
Norwegian Cruise Line's consensus EPS estimate for the upcoming report has changed -71.4% over the past month to $0.70. Compared to the company's year-ago EPS, this represents a change of +209.4%. Norwegian Cruise Line currently boasts a Zacks Rank of #3 (Hold).