Since reporting earnings three months ago, AMC has doubled its analyst coverage. Eight brokerages now cover the stock, but none has a Buy or Strong Buy rating on the shares. Only three have rated the shares a Hold. At the recent price of around $5.60 a share, the stock trades more than three times higher than its median price target of $1.80. Shares also trade above the high target of $4.50.
First-quarter revenue is forecast at $937.7 million, which would be down 5.4% sequentially but up 19.3% year over year. Analysts expect AMC to report a loss per share in the quarter of $0.17, worse than the prior quarter’s loss of $0.14 per share and better than last year’s quarterly loss of $0.65 per share. For the full 2023 fiscal year, AMC is expected to post a loss per share of $0.41, compared with last year’s loss of $0.69 per share. Revenue is forecast to rise by 14.3% to $4.47 billion.
AMC is not expected to post a profit in 2023, 2024 or 2025. The enterprise value to sales multiple is expected to be 2.8 in 2023. Based on average estimated sales of $4.85 billion and $2.04 billion for 2024 and 2025, respectively, the multiple is 2.5 for 2024 and 2.4 for 2025. The stock’s 52-week trading range is $3.77 to $27.50. Total shareholder return for the past year was negative 39.78%.
Enbridge
Energy infrastructure giant Enbridge Inc. (NYSE: ENB) has seen its share price drop by more than 10% over the past 12 months.
On Tuesday, Canada-based Enbridge paid $400 million for an underground natural gas storage facility in British Columbia as it continues to shift its focus from petroleum to natural gas. More than half of the company’s EBITDA now comes from natural gas. Enbridge is expected to spend about 20% of its 2023 capex budget on renewable energy projects, about the same amount it will spend on capital projects for its oil business. Natural gas is expected to get about 60% of the company’s capital budget.
Of 22 brokerages covering the stock, 12 have a Buy or Strong Buy rating and the other 10 rate it at Hold. At a price of around $39.00 a share, the upside potential based on a median price target of $43.00 is 10.3%. At the high price target of $48.00, the upside potential is about 20.9%.
Analysts anticipate first-quarter revenue of $11.74 billion, up 18.4% sequentially but 2.8% lower year over year. Adjusted EPS are forecast at $0.61, up 31.7% sequentially and down 9.0% year over year. For the full 2023 fiscal year, analysts expect Enbridge to report EPS of $2.18, up 5.2%, on sales of $38.84 billion, down 1.3%.
Enbridge stock trades at 17.8 times expected 2023 EPS, 17.5 times estimated 2024 earnings of $2.22 and 16.2 times estimated 2025 earnings of $2.40 per share. The stock’s 52-week range is $35.02 to $47.67, and the company pays an annual dividend of $2.60 (yield of 6.58%). Total shareholder return over the past year was negative 4.75%.
Originally published at 24/7 Wall St.
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