National CineMedia Sees Strong Trading Volume on Strong Earnings (NCMI)
Shares of National CineMedia (NASDAQ:NCMI) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report, American Banking News reports. Approximately 2,564,377 shares were traded during mid-day trading, an increase of 307% from the previous session’s volume of 630,408 shares.The stock last traded at $14.92 and had previously closed at $15.29.
The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.05) by $0.03. The company had revenue of $70.02 million for the quarter, compared to the consensus estimate of $70.20 million. The company’s quarterly revenue was down 14.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 2nd. Investors of record on Monday, May 19th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.76%.
NCMI has been the subject of a number of recent research reports. Analysts at Credit Suisse raised their price target on shares of National CineMedia from $17.00 to $18.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at B. Riley upgraded shares of National CineMedia from a “neutral” rating to a “buy” rating in a research note on Thursday, May 1st. They now have a $20.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase & Co. upgraded shares of National CineMedia from a “neutral” rating to an “overweight” rating in a research note on Tuesday, April 1st. They now have a $17.00 price target on the stock, down previously from $18.00. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. National CineMedia presently has a consensus rating of “Buy” and a consensus target price of $19.04.
The stock’s 50-day moving average is $15.18 and its 200-day moving average is $17.42. The company has a market cap of $873.1 million and a P/E ratio of 20.95.
National CineMedia, Inc (NASDAQ:NCMI) is a holding company that manages its consolidated subsidiary NCM LLC.
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