The 2017 box office is off to an impressive start through the first quarter, leading B. Riley analyst Eric Wold to increase first-quarter and full-year estimates for the entire film exhibitor group. “We recommend adding to positions in the entire exhibitor group based on investors’ specific investment requirements and continue to view AMC as our favorite pure-play exhibitor name,” Wold wrote in a note to clients. Box office revenue in the year to date is up 5.5% compared with the same period last year. The box office in 2016 hit a record high in revenue, but Wold writes that 2017’s solid start provides a positive tailwind for the year and helps offset concerns regarding tough comparisons. Shares of AMC Entertainment Holdings Inc. are down nearly 10% in the year to date, but up 11% over the trailing 12-month period. By comparison, the S&P 500 index is up 5% in the year and 15% during the last 12 months.
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