National CineMedia Inc. (NCMI) Upgraded to “Hold” at Zacks Investment Research
National CineMedia Inc. (NASDAQ:NCMI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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 topic of a number of other reports. Stifel Nicolaus downgraded shares of National CineMedia from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Wedbush reiterated an “outperform” rating and set a $17.50 price objective (down from $19.00) on shares of National CineMedia in a research note on Wednesday, August 10th. FBR & Co reduced their price objective on shares of National CineMedia from $18.50 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 9th. Finally, B. Riley restated a “buy” rating and issued a $18.75 price target on shares of National CineMedia in a research report on Sunday, August 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $17.72.
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Shares of National CineMedia (NASDAQ:NCMI) opened at 14.07 on Tuesday. The company’s 50-day moving average is $14.65 and its 200-day moving average is $14.79. National CineMedia has a 12-month low of $13.47 and a 12-month high of $16.33. The stock has a market cap of $841.89 million, a P/E ratio of 50.61 and a beta of 0.43.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.03. National CineMedia had a net margin of 3.82% and a negative return on equity of 12.56%. The company had revenue of $115.40 million for the quarter, compared to the consensus estimate of $115.52 million. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year. On average, analysts expect that National CineMedia will post $0.40 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in National CineMedia during the second quarter worth $6,764,000. State of New Jersey Common Pension Fund D boosted its stake in National CineMedia by 96.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 610,000 shares of the company’s stock worth $9,443,000 after buying an additional 300,000 shares during the period. Wellington Management Group LLP boosted its stake in National CineMedia by 10.2% in the first quarter. Wellington Management Group LLP now owns 2,443,768 shares of the company’s stock worth $37,169,000 after buying an additional 226,207 shares during the period. Vanguard Group Inc. boosted its stake in National CineMedia by 5.3% in the second quarter. Vanguard Group Inc. now owns 4,438,472 shares of the company’s stock worth $68,708,000 after buying an additional 221,533 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in National CineMedia by 27.1% in the second quarter. Macquarie Group Ltd. now owns 984,936 shares of the company’s stock worth $15,247,000 after buying an additional 210,246 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.
About National CineMedia
National CineMedia, Inc (NCM, Inc) is a holding company that manages its consolidated subsidiary National CineMedia, LLC (NCM LLC). NCM LLC operates the digital in-theatre media network in North America, through which it sells in-theatre and online advertising and promotions. The Company is engaged in advertising business.
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