Zacks Investment Research upgraded shares of National CineMedia, Inc. (NASDAQ:NCMI) from a sell rating to a hold rating in a report issued on Wednesday, October 18th.
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. “
Other equities research analysts have also recently issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $14.00 target price on shares of National CineMedia in a research note on Saturday, August 12th. Wedbush started coverage on shares of National CineMedia in a research note on Wednesday, August 2nd. They set a neutral rating and a $6.50 target price on the stock. BidaskClub cut shares of National CineMedia from a sell rating to a strong sell rating in a research report on Saturday, July 8th. J P Morgan Chase & Co restated a neutral rating and issued a $8.00 price objective (down from $12.00) on shares of National CineMedia in a report on Tuesday, August 8th. Finally, Credit Suisse Group reduced their price objective on shares of National CineMedia from $8.00 to $7.00 and set a neutral rating on the stock in a report on Thursday, September 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $10.93.
National CineMedia (NCMI) traded up $0.28 during trading hours on Wednesday, hitting $6.97. 556,615 shares of the stock were exchanged, compared to its average volume of 536,462. The firm has a market capitalization of $420.90, a P/E ratio of 20.91, a PEG ratio of 2.73 and a beta of 0.65. The company has a debt-to-equity ratio of -13.47, a quick ratio of 1.94 and a current ratio of 1.94.
National CineMedia (NASDAQ:NCMI) last released 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). National CineMedia had a net margin of 4.56% and a negative return on equity of 16.58%. The company had revenue of $97.10 million during the quarter, compared to analyst estimates of $104.30 million. During the same period in the prior year, the business posted $0.11 EPS. National CineMedia’s revenue was down 15.9% compared to the same quarter last year. sell-side analysts predict that National CineMedia will post 0.27 earnings per share for the current year.
In related news, major shareholder Amc Starplex, Llc sold 2,800,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $6.49, for a total transaction of $18,172,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder American Multi-Cinema, Inc. sold 12,000,000 shares of the firm’s stock in a transaction dated 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. Corporate insiders own 5.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. River Road Asset Management LLC acquired a new position in shares of National CineMedia in the 3rd quarter worth approximately $11,035,000. Boston Partners acquired a new position in National CineMedia during the 3rd quarter valued at approximately $1,271,000. Gabelli Funds LLC acquired a new position in National CineMedia during the 3rd quarter valued at approximately $265,000. Gamco Investors INC. ET AL acquired a new position in National CineMedia during the 3rd quarter valued at approximately $175,000. Finally, Nine Chapters Capital Management LLC acquired a new position in National CineMedia during the 3rd quarter worth $136,000. Institutional investors own 84.25% of the company’s stock.
About National CineMedia
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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