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Wire

Update: Wedbush Raises Price Target on AMC Entertainment to $4 From $3 After 'Great' Q2, Keeps Outperform Rating

(Updated to include Wedbush commentary)Wedbush raised its price target on AMC Entertainment (AMC) to $4 from $3 following Q2 earnings, driven by strong attendance across its domestic and European footprint, market share gains, and notable leverage.There's upside remaining for the company as it is positioned to gain market share in the second half of the year, with the most premium and large format screens in North America and expansion plans in UK/EU, as well as more consistent release slate over the next several quarters, analysts led by Alicia Reese wrote in a Tuesday note.AMC Entertainment has an average rating of overweight and mean price target of $2.44, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $2.27, Change: $-0.19, Percent Change: -7.72%

$AMC
Wire

AMC Poised for Strong H2 After Q2 Beat, Wedbush Says

AMC Entertainment (AMC) is well positioned for a strong H2 of 2026 and into 2027 following better-than-expected Q2 results, Wedbush said in a Tuesday note.The report pointed to momentum supported by market share gains, a more consistent release slate over the next several quarters, and debt reduction plans.AMC will continue to close unproductive doors, shore up its balance sheet, and co-invest in upgrades in most productive theaters to drive higher revenue per screen, the note said."We expect the 2026 box office to rise mid-teens% YoY, and AMC to gain market share in the year," the report said.Wedbush kept its outperform rating while raising its price target to $4 from $3.Price: $2.27, Change: $-0.20, Percent Change: -7.93%

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Wire

Top Midday Gainers

AMC Entertainment (AMC) reported Monday over 4.3 million moviegoers in AMC Theatres in the US and Odeon Cinemas globally from Thursday through Sunday, led by the opening of Christopher Nolan's film "The Odyssey."Shares climbed past 22% as intraday trading volume soared to over 141 million from a daily average of about 38.9 million.Iren (IREN) has raised its year-end 2026 artificial intelligence cloud annualized run-rate revenue target to more than $4 billion from $3.7 billion, the company said on Monday.Shares rose 20% amid an increase in intraday trading volume to over 57 million from a daily average of roughly 46.8 million.Global Payments' (GPN) improved buyback capacity, constructive channel checks on the Genius platform and the Worldpay business, low bar for execution, and rising investor interest create a meaningful rerating potential, Morgan Stanley said in a Monday research note.Shares jumped 6%, with intraday trading volume at more than 2.3 million versus the stock's daily average of about 3.7 million.Price: $2.38, Change: $+0.44, Percent Change: +22.68%

$AMC$GPN$IREN
Comcast's Universal Pictures Nets $264.1 Million Global Opening for 'The Odyssey'
US Markets

Comcast's Universal Pictures Nets $264.1 Million Global Opening for 'The Odyssey'

Comcast (CMCSA) unit Universal Pictures' "The Odyssey" adventure drama fantasy soared in its theatrical debut over the weekend, taking in $264.1 million worldwide and giving the studio a box office win.The film grossed $124.5 million domestically and $139.6 million internationally over its opening weekend, according to a report by IMDbPro.IMAX (IMAX) screenings powered the successful debut, generating $29.6 million domestically across 444 screens, nearly 24% of North American market share, and $22.2 million internationally, setting all-time IMAX opening records in 26 territories including France, Germany, and Mexico."'The Odyssey' is among a rarified group of instant classic blockbusters in IMAX history that fully leverage our platform; as bullish as we are on its success, our experience tells us that even we don't know how this movie will grow our brand and business," IMAX Chief Executive Rich Gelfond said.The film has yet to open in several major Asian markets, with IMAX rollout scheduled for South Korea on Aug. 5, China on Aug. 14, and Japan on Sept. 11.AMC Entertainment (AMC) said surging demand for "The Odyssey" drove six of its key US theaters to run showtimes around the clock for over 85 consecutive hours throughout the weekend. The film marked AMC's highest-grossing opening weekend for an R-rated title since 2024.North American moviegoers purchased roughly 7.5 million tickets for the picture's opening run, CNBC reported, citing EntTelligence data. Premium large formats accounted for 45% of total ticket volume with an average price tag of $19, while specialized 70mm viewings generated 5% of overall turnout at roughly $22.50 per ticket.AMC shares jumped 13% in recent trade Monday, while IMAX rose 0.8%. Comcast fell 0.8%.Price: $23.71, Change: $-0.09, Percent Change: -0.36%

$AMC$CMCSA$IMAX
June Domestic Box Office Likely to Set Up Best Second-Quarter Post COVID-19, B. Riley Says
US Markets

June Domestic Box Office Likely to Set Up Best Second-Quarter Post COVID-19, B. Riley Says

US box office revenue in June is likely to come in higher than previously projected, potentially setting up the best second-quarter performance after the COVID-19 pandemic, according to B. Riley Securities.Figures for the current ending month show box office collections are likely to come in at $1.05 billion, climbing 27% year over year and ahead of the brokerage's prior forecast of $1 billion, it said in a client note emailed Tuesday.B. Riley cited ongoing momentum for certain releases in May, such as the Comcast (CMCSA)-owned Universal Pictures' "Obsession" and the A24-distributed "Backrooms," behind the upgrade.The performance is expected to result in a quarterly domestic box office of around $3 billion, representing an annual gain of 10% and the "best (second quarter) post-COVID," B. Riley Managing Director Drew Crum said in the note. This would be a "positive for all names across our universe," especially AMC Entertainment (AMC), Cinemark (CNK) and Marcus (MCS), according to Crum.AMC shares edged down 0.3% in Tuesday trade, while Cinemark and Marcus declined 2% each.Box office collections totaled $155.2 million over the weekend, led by Walt Disney's (DIS) "Toy Story 5" with $70.8 million, according to BoxOfficeMojo, owned by Amazon (AMZN) company IMDb. Momentum for the film was "muted by an equity offering" by AMC, B. Riley said.Last week, AMC closed its registered direct offering of 95.3 million common shares for gross proceeds of around $200 million.Warner Bros.' (WBD) "Supergirl" raked in an estimated $37.1 million, which the brokerage views as "underwhelming" when compared with its reported $170 million production budget. Imax (IMAX) took in nearly $8 billion of the film's domestic box office, or roughly 20%, "representing its highest domestic opening weekend index of any superhero title" in the theater company's history, according to B. Riley.Price: $2.01, Change: $-0.02, Percent Change: -0.99%

$AMC$AMZN$CNK$DIS$IMAX$MCS$WBD
Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says
US Markets

Domestic Box Office Poised for Continued Momentum After May Beat, B. Riley Says

Domestic box office performance in May was stronger than expected, likely boding well for this month, with AMC Entertainment (AMC), Cinemark (CNK), and Marcus (MCS) seen as beneficiaries, B. Riley Securities said Monday.Preliminary figures for last month show box office collections of $1.06 billion, up 9% year over year and ahead of the brokerage's $890 million forecast."We believe it was ahead of market expectations, providing added confidence in near-term estimates and the summer slate," B. Riley Managing Director Drew Crum said in a note to clients. "A stronger June slate headlined by 'Toy Story 5,' plus an easier comp, suggests further positive momentum is plausible."B. Riley sees AMC, Cinemark and Marcus among the beneficiaries, according to the note.AMC shares were up nearly 14% in Monday afternoon trade, while Cinemark jumped 11%. Marcus rose 3.6%.The latest box office performance reflects carryover from April movies like Amazon (AMZN) MGM-distributed film "Project Hail Mary," and "Michael," as well as a solid sequel debut for "The Devil Wears Prada 2," and a strong opening weekend for A24's YouTube-inspired horror phenomenon "Backrooms," B. Riley said.The brokerage expects May box office performance to be issued this week, including a global total from Imax (IMAX) and separately a figure from Cineplex offering a read on the Canadian market, according to the note.B. Riley projects June domestic box office collections at $1 billion, which would mark a 20% annual gain amid an easier prior-year comparison and other upcoming high-profile titles like Amazon MGM's "Masters of the Universe" and Paramount's (PSKY) "Scary Movie."Box office performance will potentially be offset by the FIFA World Cup 2026, which kicks off June 11, according to the brokerage.Price: $1.96, Change: $+0.23, Percent Change: +13.01%

$AMC$AMZN$CNK$IMAX$MCS$PSKY
Wire

AMC Entertainment Positioned to Gain Market Share in 2026, Wedbush Says

AMC Entertainment (AMC) is positioned to gain market share in 2026 with premium screens in North America and its expansion plans in United Kingdom and European Union, Wedbush said in a research note on Wednesday.Wedbush said it remains positive on AMC Entertainment as the company is poised to benefit from more consistent releases over the next several quarters and it continues to prioritize debt repayments.Noting the Q1 results, the brokerage said the company continues to drive up revenue per attendee, with the last three quarters seeing $24 domestic per caps and around $18 per international attendee, which is about 30% higher compared with pre-pandemic levels."We expect AMC's [earnings before interest, taxes, depreciation, and amortization] margin to rise to 13-16% within the next 2-5 years as attendance and per caps normalize modestly higher," Wedbush said.Wedbush maintained its outperform rating on AMC Entertainment, with a price target of $3.Price: $1.63, Change: $+0.04, Percent Change: +2.52%

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Research

Benchmark Upgrades AMC Entertainment to Buy, $2.50 Price Target

AMC Entertainment Holdings (AMC) has an average rating of Hold and mean price target of $2.01, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$AMC
Wire

AMC Entertainment Says Over 4.4 Million Moviegoers Attended Theaters From April 30 Through May 3

AMC Entertainment (AMC) said Monday that more than 4.4 million moviegoers attended films at its US locations and ODEON Cinemas internationally from April 30 through May 3.AMC said "The Devil Wears Prada 2" opened to about $233 million globally, including previews, kicking off the summer season and boosting attendance alongside Michael Jackson biopic "Michael."The company said it expects box office momentum to continue into the next few weeks and into the summer on a slate of exclusive theatrical releases in June, July and August.Price: $1.57, Change: $+0.12, Percent Change: +7.93%

$AMC
US Markets

B. Riley Upgrades 2026 Box Office Outlook Following First-Quarter Beat

US box office revenue this year is set to come in higher than previously projected following a better-than-expected first quarter, B. Riley Securities said Friday.The industry raked in box office proceeds of about $1.74 billion in the first three months of the year, jumping 22% year over year and ahead of the brokerage's $1.59 billion view. The performance reflected a 14% increase in January, a "flattish" February and "healthy" gains in March, which benefited from the commercial success of the Amazon (AMZN) MGM-distributed film "Project Hail Mary," B. Riley said.Paramount Skydance's (PSKY) "Scream 7," Walt Disney's (DIS) "Hoppers" and Warner Bros. Discovery's (WBD) "Wuthering Heights" also contributed to the first-quarter outperformance, B. Riley analyst Drew Crum said in a note to clients.The brokerage now estimates domestic box office collections of $9.55 billion for 2026, up from its previous expectations of $9.40 billion, with the outperformance in the first quarter "serving as the key driver to this upward adjustment."The first-quarter domestic box office provided "some needed confidence following a shaky (second half of 2025), while this momentum has continued into early (second quarter)," Crum said.B. Riley reiterated its US box office revenue estimate of $2.70 billion for the current three-month period, reflecting an annual increase of 1%. For the third and fourth quarters, the brokerage is expecting proceeds of $2.70 billion and $2.40 billion, respectively."Improving box office trends could lead to quarterly beats, upward revisions to estimates, and hence multiple expansion," Crum said. "General optimism for the 2026-2027 slate, further progress on windowing, and encouraging developments regarding labor negotiations for Hollywood guilds, may help sentiment too."The brokerage raised its price targets on the stocks of AMC Entertainment (AMC) to $2 from $1.50 and on Cinemark (CNK) to $34 from $30, with neutral ratings. It continues to have a buy rating on Imax (IMAX) shares.Price: $1.90, Change: $+0.29, Percent Change: +17.70%

$AMC$AMZN$CNK$DIS$IMAX$PSKY$WBD

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