analyst firm benchmark raised its growth estimates for amc entertainment holdings inc friday citing betterthanexpected domestic box office performance amc amc reports its fiscal firstquarter results before market open on may 5 benchmark now estimates that amc will report firstquarter revenue of 912 million up from its prior estimate of 831 million analysts surveyed by factset are looking for firstquarter revenue of 930 million “domestic box office exceeded our expectations” benchmark analyst mike hickey wrote in a note released friday the analyst firm also raised its estimate for adjusted ebitda earnings before interest taxes depreciation and amortization to a loss of 37 million from its prior estimate of an 86 million loss analysts surveyed by factset are looking for an ebitda loss of 33 million benchmark has a hold rating for amc shares of the movietheater chain and memestock darling fell 02 before market open friday the stock ended thursday’s session down 26 compared with the sp 500’s spx decline of 06 related amc boosted by rebound in foot traffic and gen z visits research finds in a recent report analytics company placerai noted that cinema attendance has climbed significantly since january 2021 when the cinema industry was wrestling with the disruption caused by the covid19 pandemic as of february 2023 attendance is tracking at more than 322 above january 2021’s level according to the research amc is also looking to resolve its proposed conversion of amc preferred equity ape units into common stock “amc shareholders recently approved combining amc shares and ape units and a 110 reverse stock split” hickey wrote in the note “to necessitate the transactions amc will need a favorable judicial ruling on the litigation settlement” in a filing on april 3 amc announced a settlement that opens the way for the stock conversion alongside a 10to1 reverse stock split and the capacity to sell more shares the move is part of the company’s ongoing battle to eliminate debt but it has faced court proceedings read more latest twist in amc ape stockconversion saga more of a ‘hurdle’ than a ‘roadblock’ analyst benchmark’s hickey expects amc to raise capital as soon as the settlement is resolved “we think amc will immediately tap the capital markets on a successful transaction” he wrote “the capital raise would likely be used to provide relief to amc’s significant net debt obligations” at the end of 2022 amc’s total aggregate principal debt amounted to approximately 495 billion down from 517 billion at the end of 2021 related amc’s apeconversion settlement could lead to ‘potentially massive’ 16 billion equity raise says analyst amc describes itself as the largest movietheater company in the world with approximately 950 theaters and 10500 screens across the globe over the past two years amc has been on a rollercoaster ride that took it from beleaguered pandemic victim to memestock phenomenon amc’s stock is up 221 in 2023 outpacing the sp 500’s 76 gain while the apes have risen 64