AMC ENTERTAINMENT HOLDINGS AMC
February 13, 2018 - 2:44pm EST by
member
| 2018 | 2019 | ||||||
| Price: | 13.75 | EPS | 0 | 0 | |||
| Shares Out. (in M): | 129,012 | P/E | 0 | 0 | |||
| Market Cap (in $M): | 1,774 | P/FCF | 0 | 0 | |||
| Net Debt (in $M): | 4,700 | EBIT | 0 | 0 | |||
| TEV (in $M): | 6,474 | TEV/EBIT | 0 | 0 | |||
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- AMC ENTERTAINMENT HOLDINGS AMC 11/13/2019
- AMC ENTERTAINMENT HOLDINGS AMC S 11/19/2018
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- AMC ENTERTAINMENT AMC US 06/09/2017
- BETA
- AMC NETWORKS INC AMCX 01/04/2012
- AMC NETWORKS INC AMCX 11/26/2014
- AMC Theaters AEN 03/16/2004
- CARMIKE CINEMAS INC CKEC 05/10/2016
Description
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 65 | |
There are no pictures on the scorecard. | |
| 64 | |
New to the name... could you lay out the bull/bear case today? ;) | |
| 62 | |
Cineplex ended up working out..It is a much better business than the other theater companies...CINE synergies look a bit crazy but happy to make a nice gain on this nevertheless. The break-up fee is interesting.... login to read the rest | |
| 59 | |
There just not enough buyers to offset the people that want/need to get out. The box office trends have not been good, massive cap ex spending feels like pushing on a string (although the benefits... login to read the rest | |
| 58 | |
Any views on why this stock is trading so poorly (the fundamental arguments against the business nothwithstanding-those have been detailed thoroughly on this thread). Wondering if there are near-term technical variables. Seems extreme if this... login to read the rest | |
| 57 | |
Hey afgtt, on CGX I do not believe the theater business will grow. However, they will be able to offset attendance declines w/pricing and concessions. My view is the theater business will consistently generate between... login to read the rest | |
| 56 | |
Thanks for your comments on CGX Cupmachine. I have been looking at CGX and agree that it looks interesting. Do you believe that their film and content business can continue to grow? As with all... login to read the rest | |
| 55 | |
I agree more w/mimval on his assessmenet. However, WinBrun brings up a lot of good points. Look no further than Cineplex (CGX CN), only 2.1x levered (pre-accounting for leases change), controls 80% of Canadian box... login to read the rest | |
| 54 | |
Thank you for the response. I guess where we differ is that I don't think this has to be binary--i.e. movie theaters die/survive for AMC to remain a challenged investment. The fundamentals can slowly deteriorate--without... login to read the rest | |
| 52 | |
Movie theaters are not going away. But the windowing needs to collapse. The friction around all parts of the experience (ticket buying/lines/parking/seating) needs to be systematically reduced. The industry structure is the most unfavorable of... login to read the rest | |
| 50 | |
Katana,
Didn't mean to strike a nerve with a few words. Yes, there is experience with a subscription business model in Europe and that should de-risk it somewhat but i could care less what "guidance" was... login to read the rest | |
| 48 | |
Further to AMC A-list not being a gamble, Cineworld has had a subscription option since the early 2000s called “Unlimited” and Odeon (owned by AMC since 2016) has its more recently launched “Limitless” plan. So... login to read the rest | |
| 47 | |
Sure, open market purchases may not be Silverlake’s MO, but we view their involvement, even on favorable terms, to be a net positive. They have proven to be savvy investors, who concentrate their investments in... login to read the rest | |
| 46 | |
I'm aware Wanda has to dispose of those shares. The point is everyone pointed to Silver Lake buying the convert as a sign of confidence in the business but those terms were extremely favorable to... login to read the rest | |
| 45 | |
Those terms were made public as you noted 8 months ago. Wanda must contribute up to 5.6M shares to cover any additional shares issued by AMC. We wouldn’t be surprised if Silver Lake becomes a... login to read the rest | |
| 44 | |
I was curious if Silver Lake's conversion price went down for the quarterly dividend (I'm not involved in AMC anymore, was just curious) so I pulled out the 10k to look at the terms. I'm... login to read the rest | |
| 42 | |
Thank you-I appreciate the thoughtful reply. quarter looked good. | |
| 41 | |
1) the attendance data you asked for is in this report produced annually by the Motion Picture Association of America (MPAA), with the most recent one available being 2017 I believe: https://www.mpaa.org/wp-content/uploads/2018/04/MPAA-THEME-Report-2017_Final.pdf (see pages... login to read the rest | |
| 40 | |
Thank you for the update. A few questions:
1-Can you provide any more granular data on attendance trends--i.e. what percentage of the total population goes to movies more than 2x per year, are 10% of the... login to read the rest | |
| 39 | |
Having just passed the one year anniversary of this write-up, we thought it would be timely to share our updated thoughts. The stock is up slightly (including dividends) since our original posting on Feb 13,... login to read the rest | |
| 38 | |
They would still need nationwide distribution and not sure why that would give them leverage over those negotiations. I also don't see them buying a chain. | |
| 37 | |
Does anyone have a view on this? Rather than acquiring one of the big-3 exhibitors, it seems revocation of these rules (if enacted) would be more likely to lead large studios to buy/build theaters in... login to read the rest | |
| 36 | |
any thoughts on quarter and stock reaction? | |
| 33 | |
Very interesting !!
There's a well-managed movie theatre small cap called Kinepolis in Belgium trading at 30X earnings. It is the darling of many retail investors as mgmt has a good track record. They have been... login to read the rest | |
| 28 | |
I share my concerns that the capex is not elective (this cycle) and also that it's not generating enough of a return to offset the declining legacy product given AMC legacy and consolidated EBITDA #'s... login to read the rest | |
| 27 | |
AMC is interesting, but the capx is not elective and never has been. when you build state of the art in a market, you strand all the legaccy theaters. Never ending arms race. | |
| 26 | |
rii136, sorry for the delay in responding:
1) We don’t see Europe as a structurally better market, but we see the higher valuation of theater stocks there as a more accurate reflection of the recession-resistant persistency... login to read the rest | |
| 24 | |
I think it's rather unlikely Wanda would sell it's stake rather than just forcing a sale of the whole company. They would get more in a complete sale and it would make more sense for... login to read the rest | |
| 22 | |
8-K out last night noting that Lin (Lincoln) Zhang has resigned from the Board. He had been serving as Board Chairman and was the last remaining member of Dalian Wanda Group. As noted in our... login to read the rest | |
| 21 | |
katana, I understand. I'm just amused he thinks they might go from strongly not wanting to sell STAR WARS/200-300m budget movie A/ on day 17 or 30 in a home at a $30 one time... login to read the rest | |