National CineMedia, Inc. (NASDAQ:NCMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.
According to Zacks, “NATIONAL CINEMEDIA operates the largest digital in theatre network in North America that allows them to distribute advertisements and other content for our advertising, meetings and events businesses utilizing our proprietary digital content network. They have long term exhibitor services agreements with our founding members, Cinemark and Regal, the three largest motion picture exhibition companies in the U.S.and multi year agreements with several other theatre operators whom they refer to as network affiliates. The network affiliate agreements grant them exclusive rights, subject to limited exceptions, to sell advertising on their theatre screens. “
NCMI has been the subject of a number of other research reports. B. Riley reiterated a “buy” rating and issued a $14.00 price target on shares of National CineMedia in a report on Tuesday, May 23rd. FBR & Co lowered National CineMedia from an “outperform” rating to a “market perform” rating and set a $12.00 price target for the company. in a report on Friday, May 5th. Barrington Research lowered National CineMedia from an “outperform” rating to a “market perform” rating in a report on Monday, May 15th. BidaskClub lowered National CineMedia from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price target (down previously from $12.00) on shares of National CineMedia in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.51.
National CineMedia (NCMI) opened at 5.72 on Friday. The stock has a market cap of $346.71 million, a PE ratio of 17.88 and a beta of 0.64. The stock has a 50 day moving average price of $7.12 and a 200-day moving average price of $10.14. National CineMedia has a 1-year low of $5.63 and a 1-year high of $16.05.
National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $104.30 million. National CineMedia had a net margin of 4.56% and a negative return on equity of 16.58%. The firm’s revenue for the quarter was down 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, equities analysts expect that National CineMedia will post $0.29 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the company. Pacad Investment Ltd. raised its stake in National CineMedia by 690.2% in the second quarter. Pacad Investment Ltd. now owns 14,223 shares of the business services provider’s stock worth $106,000 after buying an additional 12,423 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in National CineMedia during the second quarter worth $137,000. Stevens Capital Management LP bought a new stake in National CineMedia during the first quarter worth $138,000. Capital Fund Management S.A. bought a new stake in National CineMedia during the first quarter worth $147,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in National CineMedia during the second quarter worth $159,000. Institutional investors own 91.17% of the company’s stock.
National CineMedia Company Profile
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). The Company operates digital in-theater network in North America, allowing NCM LLC to sell advertising and certain third-party theater circuits under long-term network affiliate agreements.
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