AMC Entertainment Holdings Inc. reports its fiscal first-quarter results Friday, with Wall Street eager to see whether the movie-theater chain and meme-stock darling can harness a rebound in cinema attendance.
AMC recently enjoyed a strong Easter weekend box office, boosted by the success of “The Super Mario Bros. Movie” and “Air,” which recounts the origin of the iconic Air Jordan basketball shoe. However, location-intelligence company Gravy Analytics said that AMC’s first-quarter foot traffic declined 7% year over year, although that was less of a drop than its rivals. Gravy Analytics also noted a foot-traffic uptick for AMC last spring and summer, along with a spike in the third quarter.
Wedbush has an underperform rating for AMC. Of eight analysts surveyed by FactSet, three have a hold rating and five have a sell rating for AMC.