Zacks Investment Research Downgrades National CineMedia, Inc. (NASDAQ:NCMI) to Sell

Zacks Investment Research downgraded shares of National CineMedia, Inc. (NASDAQ:NCMI) from a hold rating to a sell rating in a report issued on Saturday, November 4th.

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. “

A number of other equities analysts have also commented on NCMI. B. Riley set a $14.00 price target on National CineMedia and gave the company a buy rating in a research note on Monday, August 7th. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $8.00 price objective (down from $12.00) on shares of National CineMedia in a research note on Tuesday, August 8th. Credit Suisse Group lowered their price objective on National CineMedia from $8.00 to $7.00 and set a neutral rating for the company in a research note on Thursday, September 28th. Wedbush began coverage on National CineMedia in a research note on Wednesday, August 2nd. They issued a neutral rating and a $6.50 price objective for the company. Finally, BidaskClub lowered National CineMedia from a sell rating to a strong sell rating in a research note on Saturday, July 8th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. National CineMedia has a consensus rating of Hold and a consensus price target of $7.90.

Shares of National CineMedia (NASDAQ:NCMI) traded up $0.15 during trading on Friday, reaching $5.85. The company had a trading volume of 1,148,000 shares, compared to its average volume of 694,985. National CineMedia has a 52 week low of $5.12 and a 52 week high of $16.05. The company has a market capitalization of $447.46, a price-to-earnings ratio of 18.39, a PEG ratio of 2.32 and a beta of 0.65. The company has a debt-to-equity ratio of -14.71, a quick ratio of 1.76 and a current ratio of 1.76.

National CineMedia (NASDAQ:NCMI) last announced its quarterly earnings results on Monday, November 6th. The business services provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $116.40 million for the quarter, compared to the consensus estimate of $108.21 million. During the same period in the previous year, the company posted $0.13 earnings per share. National CineMedia’s quarterly revenue was up 2.6% on a year-over-year basis. sell-side analysts predict that National CineMedia will post 0.27 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 15.04%. The ex-dividend date of this dividend is Wednesday, November 15th. National CineMedia’s payout ratio is 266.67%.

In other news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $6.49, for a total value of $18,172,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $6.09, for a total value of $73,080,000.00. The disclosure for this sale can be found here. 5.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NCMI. Janus Henderson Group PLC purchased a new stake in shares of National CineMedia in the second quarter worth approximately $27,242,000. Oaktree Capital Management LP purchased a new stake in shares of National CineMedia in the third quarter worth approximately $25,301,000. Thompson Siegel & Walmsley LLC raised its holdings in shares of National CineMedia by 238.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,707,647 shares of the business services provider’s stock worth $20,091,000 after buying an additional 1,907,741 shares during the period. River Road Asset Management LLC purchased a new stake in shares of National CineMedia in the third quarter worth approximately $11,035,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of National CineMedia by 87.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 2,120,000 shares of the business services provider’s stock worth $15,730,000 after buying an additional 990,000 shares during the period. Hedge funds and other institutional investors own 64.87% 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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Analyst Recommendations for National CineMedia (NASDAQ:NCMI)

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