National CineMedia, Inc. (NASDAQ:NCMI) Raised 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 note issued to investors 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 topic of a number of other research reports. J P Morgan Chase & Co lowered National CineMedia from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $17.00 to $12.00 in a research note on Friday, May 5th. BidaskClub downgraded National CineMedia from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 8th. FBR & Co downgraded National CineMedia from an “outperform” rating to a “market perform” rating and set a $12.00 target price on the stock. in a research report on Friday, May 5th. Barrington Research downgraded National CineMedia from an “outperform” rating to a “market perform” rating in a research report on Monday, May 15th. Finally, Wedbush started coverage on National CineMedia in a research report on Wednesday, August 2nd. They set a “neutral” rating and a $6.50 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. National CineMedia presently has an average rating of “Hold” and an average price target of $12.51.
Shares of National CineMedia (NCMI) traded down 1.21% during midday trading on Friday, reaching $5.72. 954,380 shares of the company’s stock traded hands. The company has a market capitalization of $346.71 million, a PE ratio of 17.88 and a beta of 0.64. National CineMedia has a 52 week low of $5.63 and a 52 week high of $16.05. The stock’s 50 day moving average is $7.12 and its 200-day moving average is $10.14.
National CineMedia (NASDAQ:NCMI) last posted its quarterly earnings data on Monday, August 7th. The business services provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.04. The company had revenue of $97.10 million for the quarter, compared to analyst estimates 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 was down 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. On average, analysts forecast that National CineMedia will post $0.29 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in National CineMedia by 6.0% in the second quarter. Vanguard Group Inc. now owns 5,199,463 shares of the business services provider’s stock worth $38,580,000 after buying an additional 292,797 shares during the period. Wellington Management Group LLP increased its position in National CineMedia by 8.3% in the first quarter. Wellington Management Group LLP now owns 4,136,636 shares of the business services provider’s stock worth $52,246,000 after buying an additional 316,814 shares during the period. Thompson Siegel & Walmsley LLC increased its position in 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. Dimensional Fund Advisors LP increased its position in National CineMedia by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,323,816 shares of the business services provider’s stock worth $17,243,000 after buying an additional 194,401 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its position in 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. Institutional investors own 91.17% 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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