AMC vs CINE?6 May 2021 18:12
Shares of AMC Entertainment Holdings Inc. bounced back Thursday, putting them on track to snap a long losing streak just before the movie theater operator releases quarterly results.
The stock AMC, 0.16% climbed 1.2% in midday trading, reversing an earlier intraday loss of as much as 2.2%. It had tumbled 20.3% amid a seven-session losing streak through Wednesday, the longest such streak since the 11-day stretch of losses ending Jan. 5.
Earlier this week, the company rescheduled its annual shareholder meeting at the last minute, to give its shareholders more time “to have their voices heard.” The new date for the meeting is July 29.
AMC is slated to reveal its first-quarter report after Thursday’s closing bell. The stock has gained on the day after the past five quarterly results, by an average of 7.1%.
The company is expected to report a first-quarter per-share loss that narrows to $1.40 from $19.99 a year ago, according to FactSet, as its theaters have been reopening with limited capacity as COVID-19 related restrictions have eased. The FactSet consensus for revenue is for an 84% decline to $148 million, in line with AMC’s guidance provided in late April.