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Here's How Benchmark Sees AMC, Imax Perform In Upcoming Quarterly Results

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·2 min read
In this article:
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  • Benchmark analyst Mike Hickey offered his take on two Entertainment & Digital Media stocks in the post-pandemic world ahead of their quarterly releases.

  • Hickey estimates AMC Entertainment Holdings, Inc (NYSE: AMC) will release 2Q22 results on August 4. He saw substantial revenue and profit growth in the quarter.

  • Hickey cut his AMC 2Q22 growth estimates based on the performance of the box office that underperformed his expectations.

  • Attendance trends benefited from a compelling blockbuster film slate and consumer demand for out-of-home experiences.

  • He believed the domestic box office could deliver growth in a recession scenario. He had a Market Weight rating on AMC.

  • Hickey observed Imax Corp (NYSE: IMAX) would release 2Q22 results on July 28. He saw substantial revenue and profit growth in the quarter.

  • He raised his IMAX 2Q22 growth estimates based on the box office performance that exceeded his expectations.

  • Attendance trends benefited from a compelling blockbuster film slate and consumer demand for out-of-home experiences, somewhat offset by extended pandemic-related lockdowns in the China region that impacted both box office and screen installations.

  • He cut his 3Q22 global box office estimates based on a less compelling blockbuster film slate and potential installation weakness.

  • He had a Market Weight rating on Imax with a price target of $25.

  • Price Action: AMC shares traded higher by 7.29% at $16.49 on the last check Monday. IMAX shares traded higher by 0.90% at $16.79.

  • Photo via Wikimedia Commons

Latest Ratings for AMC

Date

Firm

Action

From

To

Nov 2021

Wedbush

Downgrades

Neutral

Underperform

Sep 2021

Macquarie

Downgrades

Neutral

Underperform

Jun 2021

Wedbush

Maintains

Neutral

View More Analyst Ratings for AMC

View the Latest Analyst Ratings

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