AMC lost over half a billion

AMC reported a first-quarter loss of $567.2 million, or $1.42 per share, on Thursday afternoon, an improvement from a loss of more than $2 billion in the same quarter a year ago. which was mainly caused by non-monetary losses from the revaluation of the cinema chain of its properties, as the COVID-19 pandemic forced closures around the world. Sales for the quarter were $148.3 million, up from $941.5 million in the first quarter of 2020.

This was expected after AMC released preliminary first-quarter results last week, abandoning a plan to ask investors to approve a potential sale of 500 million additional shares. FactSet said analysts were expecting a loss of $1.34 per share on sales of $148 million, though some of those estimates may not have been updated since last week’s disclosure.

AMC said Thursday that by the end of April, 589 of 593 US theaters and 110 of 357 international theaters it leases or operates in partnership with others have reopened to some extent. Investors and analysts want to know when those halls will be filled enough for AMC’s revenue to rise again to near pre-pandemic levels.

AMC stock has been a favorite of the Reddit meme-share crowd, helping the stock surge over 130% last year and more than quadruple in 2021.

However, the share price has seen a dramatic turnaround lately, dropping more than 21% over eight sessions that continued on Thursday as the stock fell 1.9% to $9 a share.

Analysts at SB Group analyzed the consensus forecasts for AMC shares.
The average target price per share for May 2022 is $6.38, with a high of $13.00 and a low of $1.00. On average, analysts believe that AMC Entertainment (AMC) shares will be -30.43% cheaper in a year. Their recommendation is to keep it.

Shares of International Seaways (INSW) rose 9.1% in the last trading session to close at $20.23. This move may be due to a notable trading volume with more shares traded than in a regular session. By comparison, stocks have lost 5.7% over the past four weeks.

The increase was driven by a smaller-than-expected loss per share posted by the shipping company in the first quarter of 2021.

In its upcoming report, the company is expected to report a quarterly loss of $0.54 per share, up -136.2% year-on-year. Revenue is expected to be $48.98 million, down 60.9% year-over-year.

While earnings and earnings growth expectations are important in assessing the potential strength of a stock, empirical research shows a strong correlation between trends in earnings revisions and short-term stock price movements.

For International Seaways, the EPS consensus estimate for the quarter was revised up 1.1% over the last 30 days to its current level. A positive trend in the revision of profit estimates usually leads to higher prices. So don’t forget to keep an eye on INSW going forward to see if this recent surge can turn out to be a bigger force in the future.

The average target price per share for May 2022 is $26.75, with a high of $30.00 and a low of $25.00. On average, Sbigr analysts believe that in a year the shares of International Seaways (INSW) will cost more by 32.23%. Their recommendation is to actively buy.